Stability of the monetary system

The speech at the parliament of the head of the country's main bank began with a description of the "inheritance", which the new team of financiers PRB got from the previous authorities.

According to him, this crisis had two components: external challenges and inefficient economic policy pursued by the country's former leadership, including monetary authorities. The money supply in the republic has doubled during five years from 2012 to 2016 there has been a depletion of foreign exchange reserves. At the beginning of 2017, the currency reserves of the central bank were in the negative zone. The former leadership of the republic solved the budget crisis by launching the printing press to its full potential. 920 million unsecured rubles were was printed In 2016.

He also talked about the work of the PRB last year with the so-called problem banks - Mortgage and Tiraspromstroybank, which threatened depositors' money and the economic security of the state as a whole. These credit institutions were suspended licenses, they were appointed external managers, and then they were nationalized. In addition, the Agency for the improvement of the banking system of the republic was created in the PRB. In addition, the central bank also assumed the role of regulator of the insurance market.

According to the head of the central bank, the profit of the PRB last year was 50.1 million rubles. The first questions of deputies who heard the report on the activities of the PRB in 2017 were about its expenditure.

Deputy Oleg Leontyev drew attention of his colleagues that the third time the law was extended, according to which insurance companies are obliged to create their own infrastructure at the border crossing points in order to be able to insure owners of vehicles - non-residents of the PMR. The next effective date for this legal norm is July 1 of this year, but not at all border points there are branches of insurance companies. The colleague was supported by the Speaker of the Parliament Alexander Shcherba, who said that if the insurance activity relates to the licensed, then there must be a requirement for insurance companies to equip the infrastructure at the border to work with foreign clients.