Responsible macroeconomic policy, a sound financial structure and technological sovereignty are the keys to the financial sovereignty of the state, and understanding the causes and essence of the sanctions pressure gives Russia the opportunity to act towards the future. The Minister of Finance of the Russian Federation, Anton Siluanov, spoke about this in his speech within the scope of the federal education marathon “Knowledge. First” of the Russian society “Knowledge”.
Speaking to the young audience, the head of the department emphasized that Russia has successfully overcome the acute stage of sanctions pressure.
Anton Siluanov announced that the world is going through a transformation in the global balance of power.
According to him, now Russia, China, India “support” settled developed countries, which previously dictated the rules of economic interaction to the whole world. At the same time, former hegemons want to survive and continue to dictate to others. Attempts to impose sanctions and limit payments, freeze reserves and prevent Russia from developing – this is an attempt to stay afloat, the Minister believes.
“It is important not to allow instability to occur in the budgetary structure, and at the same time to comply with all the social obligations that the state assumes – nowhere without it. We are directing funds to the most important sectors, despite all the restrictions: we have increased pensions, benefits, salaries. Thanks to a balanced fiscal policy, citizens felt the restrictions at a minimum level.”
As for technological dominance, we need to catch the missed ones: reviving mechanical engineering, tool making, radio electronics, the minister listed the fields of study.
Talking about achieving financial independence, the head of the Ministry of Finance announced that the digital ruble will enter circulation before the end of this year.
“In the last year since the introduction of severe external fiscal restrictions, Russia has implemented the plan to strengthen fiscal sovereignty developed by the government and the Central Bank. As a result, the country managed to slow down inflation – today it is no more than 3%,” he said.
He noted that Russia was also coping with unemployment: people directed their efforts and business to projects where foreign business went.
“Our mission is to move forward and it doesn’t matter who makes what decisions abroad. It is important that we make our own way so that all sanctions are set aside. Of course, we feel the limitations, but the task of the financiers is to overcome them as quickly as possible, ”Siluanov concluded.