Bank of Russia reports solid financial stability in 2011

Bank of Russia

The Bank of Russia today (May 17) released its latest Financial Stability Review, which said the economy had maintained a strong position in 2011.

"Despite the deterioration of the market situation in the second half of the year, the Russian economy remained stable as a whole in 2011: economic growth continued amid expanding domestic demand, inflation was observed to slow down and the federal budget was stable," said the report.

The central bank discussed the changes made to combat deteriorating

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