Mubasher: The Central Bank of Russia was instructed by President Vladimir Putin to adopt policies that will support economic growth, Governor Elvira Nabiullina said in a recent interview.

“Our president has set us the objective whereby the Russian economy grows at rates above world levels, this means almost 4%,” Nabiullina told CNBC on Tuesday.

“This requires a rise in the potential growth rates. It requires structural reforms, in terms of labor productivity, private investment and then the economy can grow at higher rates than it is now” she added.

The governor also stressed that the Russian economy has emerged from recession and has recovered, reaching growth rates close to potential.