The Bank of Russia, of course, has carried out a heroic special operation over the past few months to save the Russian financial system and hold on to the economy.

It seems unthinkable: while all over the world they are shouting about accelerating inflation, in our country it is declining (and controlling inflation by law is the main task of the Central Bank).

While all central banks are thinking about raising the key rate, ours is aggressively reducing it.

Today, by 150 basis points at once.

Until recently, there was an opinion that the stability of the Russian financial system is entirely based on state reserves.

Like, they, like a huge balloon, keep the clumsy ship of our economy afloat.

But the last three months have shown that this is not the case at all.

On the contrary: it was worth abandoning the mandatory reservation (since the reserves were stolen), as the ruble is getting stronger every day.

It has grown so much that not a fall, but a strengthening can become a problem in some way (although, we note in the margins, the idea that a strong currency will certainly interfere with exports is somewhat outdated: there are such export industries that benefit from a strong ruble - for example , IT, where it is important to keep specialists with competitive salaries by world standards).

While the whole world is counting whether it will have enough grain and oil until the next harvest, there are no problems with this in Russia.

While fuel prices are breaking records all over the world, their exchange price in Russia is declining, and this is already reaching the price at gas stations.

While everyone is thinking about whether to stock up on metals, since they are in short supply, prices for metal products have dropped by almost 20% in Russia in two months.

This is not some rainbow projector.

It is clear that many disappeared imported goods are needed.

But look, and problems are solved on them.

Spare parts for cars, for example, there is no total shortage, and prices have begun to decline.

The same will inevitably happen with other types of goods.

It's just that these three months have shown that the Russian economy is not strong in reserves.

Not a nugget in foreign securities.

The Russian economy is strong with hundreds of thousands of entrepreneurs who create it every day.

And who grind any situation into fertilizer for future growth.

And this one will be crushed.

If you don't interfere.

The point of view of the author may not coincide with the position of the editors.