Mishustin linked Russia’s resistance to sanctions with responsible financial policy
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Russian Prime Minister Mikhail Mishustin believes that the effect of Western sanctions has been neutralized. According to him, the decline in GDP is minimal – 0.5% over the past month, and the ruble continues to strengthen.
“Responsible financial policy and decisions, which were made primarily in coordination with the Bank of Russia and under the leadership of Russian President Vladimir Putin, made it possible both to level these effects and to plan all the necessary decisions to support the economy and people for a long time,” said Mr. Mishustin in an interview with the Russia-24 TV channel.
The prime minister noted that the fall in GDP, which was previously predicted, turned out to be minimal. “Now we are talking about August – early September, this is about 0.5%. Inflation is 13-14%, it certainly has not gone beyond 30%,” added the head of the Cabinet.
Mr. Mishustin also said that thanks to the functioning of the National Welfare Fund (NWF), the creation of an electronic budget and technological platforms for administration, the maintenance of a single treasury account and customs administration, it was possible to ensure financial stability even in the face of sanctions pressure. “The NWF is a major achievement that made it possible to create such a safety cushion together with the Bank of Russia, which conducts its own monetary policy, which made it possible to plan reliable financing of all the main functions of the state,” Mikhail Mishustin noted.
At the end of August, the Ministry of Economy, together with other departments developed scenarios for the development of the Russian economy until 2030. The main task of which was to adapt to the new sanctions conditions.
Earlier, the government presented assessments of the economic situation in the Russian Federation. According to the expectations of First Deputy Prime Minister Andrey Belousov, the decline in GDP this year may be only a little more than 2%, inflation – 12-13%, and the fall in investment will not exceed 2%. Yesterday, speaking at the Eastern Economic Forum, President Vladimir Putin predicted that by the end of the year, GDP would decline by only 2%.
More details – in the material “Kommersant” “I almost didn’t fall because I did push-ups”.
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