Russian Prime Minister Mikhail Mishustin said that the risks to the economy have not disappeared and that overly optimistic forecasts should be avoided in budget planning. Delivers on the 2024 draft federal budget and at the meeting for the 2025 and 2026 planning period TASS.
According to the head of the Cabinet of Ministers of the Russian Federation, when acting within the framework of the budget process, it is necessary to take into account all previously accumulated imbalances, including difficulties in the global economy. Mishustin noted that these could affect public finances.
The head of government stressed the importance of a pragmatic approach as well as avoiding overly optimistic forecasts when establishing key features and making spending commitments.
Before that, respondents to the Bank of Russia survey in September revised worse, the ruble exchange rate forecast for 2023-2025. According to them, the cost of the dollar will average 85.5 rubles this year, 89.9 rubles in 2024 and 90.8 rubles in 2025.
In July, analysts had predicted that the exchange rate would be 81.8 rubles per dollar in 2023, and 85 rubles for the next two years. They also worsened their inflation forecasts: Inflation is now expected to reach 6.3% instead of 5.7% by the end of 2023.
Previously, the Central Bank of the Russian Federation harshly raised up to 12% key rate in an unscheduled meeting.