Anton Siluanov, head of the Russian Ministry of Finance, said that the disconnection with SWIFT, Visa and Mastercard did not affect the stability of domestic financial transactions in the Russian Federation. He said this in an interview RT.
At the same time, he added that the Finance Ministry “feels” that foreign assets are freezing, but that Russia is “redirecting from West to East rather quickly.”
formerly Siluanov saidAccording to data at the beginning of 2023, public debt is 15.1% of GDP.
According to Siluanov, low public debt, responsible budgetary policy, floating exchange rate system and inflation targeting are the basis of Russia’s financial stability. The minister also called for the creation of an independent system for the functioning of the financial market, including the MIR payment system and the Financial Message Transmission System (SPFS), which is another advantage of the Russian financial system.