Russian President Vladimir Putin said that the Central Bank has done much to stabilize the country's economy.

"During this time, the Bank has become an even more important regulator. Whatever he does during this difficult time, whatever steps he takes, this always causes reaction of both expert circles and the public. Absolutely obvious is the fact that the Central Bank has done a lot to stabilize the situation in the economy as a whole, for the stable development of the banking sector and the entire financial sphere, "Putin said.

The president intends to propose to the State Duma to extend the authority of the head of the organization Elvira Nabiullina. He expects that the Central Bank under her leadership will act independently and confidently.

Nabiullina, who previously held the post of the head of the Ministry of Economic Development, manages the Bank of Russia on June 24, 2013