Russian economy adapted to external constraints — Central Bank chief

Business & Economy July 02, 2025, 16:45

Dramatic implementation of artificial intelligence is among structural changes of the new type, Elvira Nabiullina said

ST. PETERSBURG, July 2. /TASS/. The adaptation of the Russian economy to external restrictions has been completed and structural shifts of an absolute new type go to the forefront, Central Bank chief Elvira Nabiullina said.

"From my point of view, the structural adaptation to external restrictions has ended in broad terms. That is, we showed we are able to adapt to that but structural changes of an absolutely new type, primarily technological ones, are on the table. They may be of even larger scale by consequences than what we experienced during two prior years," she said at the Financial Congress of the Central Bank.

Dramatic implementation of artificial intelligence is among structural changes of the new type, Nabiullina said. "This is not merely automation, this is a fundamental change of methods of production and control," she noted.

One of the structural changes posing a challenge to the economy is related to finance, Nabiullina said. Russia now needs to rely upon internal sources of financing instead of a model when Russian plants received cheap funding from abroad, she added.

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