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Structural shifts taking place in economy — Bank of Russia

Growing labor productivity is one more serious move, central bank chief Elvira Nabiullina said

MOSCOW, November 19. /TASS/. Structural shifts are currently taking changes in the national economy, Governor of the Bank of Russia Elvira Nabiullina said at the plenary session of the State Duma, the lower house of the Russian parliament.

"Serious structural shifts are taking place in the economy. We see this in particular from the record high growth of investments. They surged by more than a quarter over the last three years," Nabiullina said.

Growing labor productivity is one more serious move, the central bank chief said. "Nobody disputed earlier that it is needed but incentives to increase productivity and automate production have arisen with the business just recently, when the demand surged," she noted. All the traditional methods of expanding production through growing employment almost stopped working, she added.

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Central Bank of Russia

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