Logo
  Tuesday, December 6, 2022
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Inflation in Russia and the ruble exchange rate will rise by another 1.5-2% a year if we fully spend the Stabilization Fund
"Inflation in Russia and the ruble exchange rate will rise by another 1.5-2% a year if we fully spend the Stabilization Fund," said Alexei Kudrin, Russia's finance minister, at a RIA Novosti's press conference. This was his reply to the proposal to use the Stabilization Fund in order to compensate for the possible budget losses should the VAT rate be cut to 13%. "We must seriously consider this measure as regards its impact on the country's economic growth," Mr. Kudrin added. The finance minister said that inflation this February would be much lower than in January. To quote him, "the last decade of January shows that the inflation rate will fall tangibly already in February, as against the January figure." "As regards the annual 2005 indicators, we project inflation at no higher than 8.5%," Mr. Kudrin said. In his words, the ruble will get even stronger this year than the average effective ruble exchange rate for 2004. "This will give us an additional reserve for curbing inflation," Mr. Kudrin added. According to the finance ministry's estimates, Russia's economic growth rates will be low this year. "Our official forecast is 5.8-6%. I stick to this forecast which will come true, I believe," Mr. Kudrin said in conclusion.
Print Inflation in Russia and the ruble exchange rate will rise by another 1.5-2% a year if we fully spend the Stabilization Fund Bookmark Inflation in Russia and the ruble exchange rate will rise by another 1.5-2% a year if we fully spend the Stabilization Fund

Related News   
JanFebruary 2005Mar
MoTuWeThFrSaSu
31123456
78910111213
14151617181920
21222324252627
28123456
78910111213