VTB Bank president Andrey Kostin in an interview with the publication RBC He said ahead of the Eastern Economic Forum that the Bank of Russia did not rule out the possibility of further raising the interest rate. He noted that representatives of the Central Bank of Russia (CBRF) have already spoken on this issue.
Regarding financial policy, Kostin shared his observations on the differences of opinion between bankers and financial authorities. He noted that bankers have always tended to be more aggressive and risk-taking than regulators. Kostin also expressed his stance on the possibility of using the budget rule and maintaining a deficit-free budget, as well as increasing public debt to 40% of GDP.
Regarding business transactions in yuan, Kostin noted that they are already being carried out and also mentioned the direct conversion of rupees into rubles. He emphasized that although commissions and discounts are available when using brokers from India or the Emirates, trading volumes are already quite large. Kostin also expressed his opinion that an agreement should be made in national currencies.
Kostin also mentioned a possible complete financial blockade, noting that an Iran scenario is possible if the financial and manufacturing sectors are included in the sanctions lists. However, he stated that he did not observe a similar situation at the moment and stated that the EU was no longer considering new sanctions and continued to trade with Russia.
Previously existed in the Russian Federation Established Uniform personal income tax rate for remote workers.