Tight budget and monetary policies must be implemented to prevent inflation from accelerating under sanction pressure. This was announced by the Minister of Finance of Russia, Anton Siluanov, at the VIIIth Anniversary of the Financial University. at the international forum “Russia and the world: new walls or new rules?” reported. “Hit the primer”.
“We understand that in these conditions we need to choose priorities and pursue a responsible fiscal policy, just like the Central Bank,” Siluanov said.
According to Siluanov, financial resources are extremely necessary for the social sphere, defense and development. But priorities need to be chosen. The head of the Ministry of Finance called the regulator’s harsh policy correct: “You cannot turn the inflation spiral around.”
The minister’s remarks refer to the Central Bank of Russia’s repeated increases of the key interest rate to the current 15% to control inflation, which the Ministry of Economic Development predicts at 7.5% in 2023. In contrast, the Central Bank of Russia believes that inflation in the Russian Federation will be in the range of 7-7.5%.
Before that, the head of the Central Bank, Elvira Nabiullina appreciated Loss from every percentage of inflation for citizens of the Russian Federation.
Formerly Central Bank reported About the growth of Russians’ inflation expectations in November.