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billion). Insurance insurance 90.0 (except mandatory medical insurance) in- reserves other than life insurance reserves increased 70.0 84.6 84.0 82.9reserves

we relied on our international reserves. In theory, there are also other sources, ranging from the IMF and regional reserves arrangements and credit lines, to

Inflation in an Era of Relative Price Shocks, Proceedings of a Conference, Reserve Bank of Australia, Sydney (pp. 305–333). Серия докладов 27 об экономических

Significant international reserves assuring financial Figure 8: Public debt to GDP among the lowest in both EM and DM stability (2016, %) Reserves Reserves/GDP = 27.

account and capital account surplus 35 85 47 32 Financial transactions account (reserve assets excluded) -16 -26 -12 -8 Public administration and central banks 13

and Economics Discussion Series 2016-099. Washington: Board of Governors of the Federal Reserve System. Haldane, A. and Turrell, A. (2018). An Interdisciplinary Model for Macroeconomics,

significant growth in pension reserves, which went up by 13.6%, or 166.1 billion rubles. As a result, pension reserves totalled 1.4 trillion

NPF and the PFR savings and reserves grew by 1.2% to 5.6 trillion rubles. The savings and reserves to GDP ratio amounted to

section – 31 July 2018. ‘Credit and deposit market’ section – 1 July 2018. * Reserve requirements are an important part of the Bank of Russia’s set

8 7.4 6.4 5.7 0 Capital reserve Capital reserve Capital reserve Capital reserve Bank faces capital of over 5 pp of 2