March 27, 2023
Finance International

Russia’s Internal Effort Over Categorized Monetary Data

Russian policymakers are debating whether to declassify more data as the Kremlin’s drive for secrecy leaves even seasoned observers struggling to make sense of the country’s economy.

Elvira Nabiullina, Russia’s central bank governor, is leading a push to roll back most of a decision to make reams of economic data classified, taken in the early weeks of last year’s full-scale invasion of Ukraine, according to three people familiar with the matter.

The Kremlin, which has yet to approve the initiative, has justified withholding information on a wide range of economic statistics as a necessary defence against western sanctions. The classified data sets include important indicators such as foreign reserve holdings and export figures. Russian companies are allowed to keep “sensitive” results secret.

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