The peak of inflation in Russia has been passed, while the budget policy has already been brought in line with “normal levels”. This was announced on Friday, January 14, by Finance Minister Anton Siluanov.
“Inflation is one of those problems that we have had since last year. Ultimately, the reasons are always monetary factors, and monetary factors were caused by the fact that we sought to support citizens, the economy in conditions when restrictive measures were introduced, ”Siluanov said on RBC.
He noted that the peak of inflation in Russia has been passed. Now there are no additional budgetary incentives to warm up the economy, the head of the Ministry of Finance added.
“The monetary authorities (Central Bank. – Ed.) are now taking steps to overcome inflationary pressure,” Siluanov added.
In addition, the minister said that the federal budget of the Russian Federation in 2021 was executed with a surplus of 0.4% of GDP.
On December 30, Siluanov said that the additional revenues of the Russian budget in 2021 will amount to about 4 trillion rubles. According to him, during 2021, the authorities allocated money to support various social groups of citizens, and also directed funds for investments.
On December 7, Russian President Vladimir Putin signed the law on the budget for 2022 and for the planning period of 2023-2024. The budget was formed on the basis of the forecast of the Ministry of Economic Development on the growth of the RF GDP in 2022 compared to the expected level of the current year by 3% – up to 133.328 trillion rubles, the growth of total investment by 5.9% – up to 24.407 trillion rubles, the inflation rate of 4% compared to 5.8% expected in 2021.
The document also provides funding for targeted support for families with children. Thus, the law regulates the increase in the subsistence minimum and the minimum wage (SMIC) from 2022 by 8.6%.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
