Head of the Ministry of Finance Siluanov on prices: if you don’t buy them, then they’ll be normal
The head of the Russian Ministry of Finance, Anton Siluanov, assessed the situation with prices with the phrase “if you don’t buy, then normal.” This is what he’s talking about stated during the plenary session of the Moscow Financial Forum.
During his speech, the head of the department also stated that the exchange rate of the national currency should be predictable: some in the state need the ruble to be strong, and others need it to be weak, and the Ministry of Finance is working to ensure that the ruble is stable. Siluanov spoke similarly about the principles of drawing up the country’s budget.
“It seems to me that when we say “growth”, “inflation”, “oil prices”, “budget”. Well, the budget should not be based on forecasts. It must be balanced and sustainable, regardless of any forecasts,” he explained.
Related materials:
During the plenary session of the forum, Elvira Nabiullina, Chairman of the Bank of Russia, also spoke about prices. According to her, raising the key rate to 13 percent was effective in curbing the weakening of the ruble. If the regulator’s monetary policy were softer, the ruble exchange rate would be lower, she added.
“We have raised the key rate. Yes, this does not give the same impetus as when we had the movement of capital completely open. But if our rate now remained 7.5-8.5 percent, the rate would be much weaker,” Nabiullina said.
According to Nabiullina, the inflation target of four percent cannot be changed, since “then the guidelines disappear completely – neither the exchange rate nor inflation.” Price growth in Russia will gradually slow down and reach the current target, she added.
#Siluanov #assessed #situation #prices #phrase #dont #buy #normal