Annual report of the Bank of Russia for the 2019 submitted to the State Duma of the Russian Federation
The report reflects the priorities of the Bank of Russia and the decisions, which took the regulator to ensure price and financial stability, development of financial market of the country.
Inflation during the year was slowed down, which allowed the Bank of Russia to reduce the key rate at the end of the year inflation amounted to 3%. Increased the gold and foreign exchange reserves. Continued devolutionary Bank balance sheets. After the introduction of the indicator of debt burden of the borrower has stabilized, the growth rate of the consumer credit market. Strengthened stability of the banking sector significantly reduced the amount of withdrawals from banks, was completed on the rehabilitation of banks through the Fund for the consolidation of the banking sector. One of the most significant events of the year — the transition of the construction industry to funding through the escrow account. Actively develop the bond market. For the stock market year was marked by significant increase in interest from retail investors. Continued implementation of financial technology and the growth of cashless payments. In the beginning of last year launched a System of quick payments.
The report also contains an analysis of the external and internal conditions of functioning of Bank of Russia, annual financial statements and auditor’s report.
In a message to readers Bank of Russia Chairman Elvira Nabiullina estimated the results of the past year, primarily from the point of view of readiness of the Russian financial system to reflect the challenges the country faced in the beginning of 2020 because of the threat of the spread of coronavirus infection and unfavorable external economic factors. The key outcome of the development of the financial system in 2019, according to Elvira Nabiullina, was the fact that “the Russian financial institutions is able not only to cope with current challenges but also to support the economy of resources in the period of recovery that will help its speedy return to a growth trajectory”.
Presented may 13 at the State Duma of the document will be considered at the plenary session of the lower house of Parliament. The state Duma also sends the Annual report of the Bank of Russia to the President and the Government of the Russian Federation.