Anton Siluanov, who leads Russia’s Ministry of Finance, stated that the budget plan for the coming years does not rely on shifting exchange rates to fill gaps. This claim was reported by TASS.
In outlining a three-year financial trajectory, the ministry signals that it bases decisions on forecasts rather than attempts to weaken or strengthen the ruble. Siluanov stressed that a primary aim is to curb excessive swings in the national currency while keeping true costs and revenues predictable for the broader public and for participants in foreign trade. The goal, he explained, is to reduce volatility and to create a sense of stability that lets households and businesses plan with reasonable confidence.
Siluanov also pointed to the main challenge for the ministry: ensuring that the ruble exchange rate remains predictable, even though currency markets naturally exhibit fluctuations. The ministry’s view is that even with volatility, the public and market participants deserve clarity about likely trends and policy responses.
Looking ahead, Siluanov outlined several potential financial threats Russia may face in the year to come. Among these are external risks, ongoing sanctions, and the unpredictable actions of other major powers. He indicated that such factors could influence the fiscal outlook, currency stability, and the conditions under which foreign trade operates.
Earlier, Mikhail Mishustin described what he saw as irresponsible actions by some countries as a driver of global inflation. He added that many nations justify large-scale injections of money into their economies and banking systems as a response to the coronavirus threat. These dynamics, Mishustin argued, contribute to global price pressures and financial uncertainty.
Previously Mishustin cautioned against excessive optimism, underscoring the need for realism in assessing economic developments and policy responses amid uncertain times.