Russia seeks to maintain a balance between growth and inflation rates, the country’s economic growth has reached a pre-pandemic level, said Finance Minister Anton Siluanov. According to him, the scale of the global anti-crisis support was excessive and leads to an increase in inflationary pressures.
Mr. Siluanov took part in the meeting of the BRICS finance ministers and central bank governors. The press service of the Ministry of Finance reports that at the meeting, concerns were voiced about “diverging trajectories of recovery in developed and developing countries”, as well as because of the risks of delaying anti-crisis measures, which threatens to lead to overheating of the economy.
“We see that the scale of the global anti-crisis support turned out to be excessive, leading to an increase in inflationary pressure. In this regard, it is necessary to jointly take measures to reduce the factors of overheating of the economy, the accumulation of imbalances in it, the growth of government debt, budget deficits, etc., ”says Anton Siluanov.
The minister said that in Russia in the first six months of 2021, economic growth reached the pre-pandemic level, and exceeded it in many sectors. “Russia is striving to maintain a balance between growth and inflation rates, reaching the budgetary rule in the formation of budgetary policy,” said the head of the Ministry of Finance.
President Vladimir Putin said in August that Russia has restored “almost completely” the pre-crisis level of the economy. The Accounts Chamber (JV) this week reported that Russia’s national debt exceeded 20 trillion rubles. According to her, the first half of this year was characterized by high rates of economic growth, but the joint venture linked this with the effect of the low base of 2020.
Details – in the material “Kommersant FM” “The state debt is gaining momentum.”