Finance Ministry: Russia’s budget policy stable

Finance Ministry: Russia’s budget policy stable

Russia’s budget policy is stable and poses no inflation risks, Russian Deputy Finance Minister Vladimir Kolychev said at the S&P Global Ratings 2019.

He noted that it will remain stable even if around 1 trillion rubles of the National Wealth Fund is invested domestically.

“There was a slowdown this year, it seems to be connected with internal factors. There are risks of delays in implementation of national projects,” PRIME cited Kolychev as saying.

The official added that the initially projected track of the national projects implementation is to be reached already in 2020 so the negative effect will vanish.

According to the Deputy Finance Minister , inflation may fall to below 3% in 2019, although it is not a basic scenario, and is expected at 2.5–3% in February–April 2020.