Until recently dominant economies are being systematically “deflation” and replaced by new ones. This was reported by RIA News Referring to Finance Minister Anton Siluanov.
The head of the Ministry of Finance spoke at an educational marathon as part of the Russia exhibition.
“Old systems are gradually losing their validity, new powers are coming, new economies such as China, Russia and India are coming,” Siluanov emphasized.
According to him, an active development is now observed in the East.
At the same time, old economies that were previously economically and politically “dominant” are gradually losing their former positions.
Such situations that cause economies to lose their positions have occurred many times in world history. Siluanov added that such changes are always painful.
Before that Siluanov statedIt is predicted that the Russian economy will grow by 2.8 percent by the end of the year. According to the Minister of Finance of the Russian Federation, in 2022 this value was around 2%.
Formerly Central Bank of the Russian Federation raised key rate up to 15%.