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  Thursday, September 24, 2020
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Alexei Kudrin:"The government will see to it that the decisions we are discussing today will be compensated by government measures to contain inflation"
When attending Friday the Duma session which considered amendments to the law on 2005 budget, Finance Minister Alexei Kudrin said that the government was intent on measures preventing the expenditure from sending up inflation. "The government will see to it that the decisions we are discussing today will be compensated by government measures to contain inflation," said the minister. Kudrin cited both monetary and non-monetary measures, in particular, regulation of natural monopolies' prices, containment of gas prices, etc. The first quarter of the year saw additional revenues, according to Kudrin. He also was emphatic on the fact that the amendments under review would make it possible to use 111 billion rubles ($3.88 billion) from the stabilization fund for paying off pensions. Kudrin also reported that specification awaited not only export gas dues but also import tariffs on pork and beef - the price rise in this sphere has contributed a lot to the mounting inflation. "Without infringing on quotation (beef import) rules we shall provide for a regime whereby prices will not go up at such a pace in the next six months," said the minister. "The decisions suggested allow for increasing the 2005 budget expenditure by the sum of 348 billion rubles ($12.17 billion), out of which 73.3 billion rubles ($2.56 billion) will be directed to remunerate work with charges; 148.4 billion for the payment of pensions; 53.9 billion for the support of Federation jurisdictions and 30.9 billion for investment, above all, in road construction
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