OREANDA-NEWS In the coming years, due to the limited availability of capital and the shortage of labor in Russia, wave-like productivity shocks are possible, and first of all we are talking about negative shocks, which creates pro-inflationary risks. This is stated in the May review of the monetary policy of the Central Bank.

The ministry warned that the problems remain the gradual reduction of the labor force in Russia on the long-term horizon, as well as the loss of foreign capital, which was previously involved in many production processes.

The authors of the report believe that the primary adaptation of the economy to the new conditions is largely complete, but further transformation will largely depend on the availability of production factors and their productivity.

In particular, we are talking about the impact of sanctions, changing the configuration of the world economy, fragmentation of markets, the climate agenda and increasing global competition for labor. The Russian economy, as emphasized in the report, will have to go through a large-scale restructuring. Some enterprises will be able to switch to another type of product and change the focus of production, others will have to leave the market. The ratio of industries in the economy will also change.

Earlier it was reported that the Egor Gaidar Institute for Economic Policy (IEP) recorded a record number of reports about the shortage of employees from representatives of Russian industry. The situation is most difficult in the light industry.