Mishustin highlights key factors to maintain financial stability in Russia

Russian Prime Minister Mikhail Mishustin said that the work of the National Wealth Fund, the creation of an electronic budget and technological platforms for management are important factors in maintaining financial stability in the face of sanctions.

In a television interview on the occasion of the 220th anniversary of the founding of the Russian Ministry of Finance, the head of government said that the National Wealth Fund is “a great achievement that made it possible to provide financial insurance with the Central Bank of Russia.” Russia, which independently carries out its monetary policy, which made it possible to plan reliable financing of all the main functions of the state.

He added: “Another important factor is the creation of electronic budget technology platforms for management, as well as platforms for the tax service and treasury, customs administration. All this allows us to work effectively even in the face of the unprecedented nature of sanctions. imposed on our country, and allows people to feel financial stability.

The head of government noted that the ruble has recovered and strengthened its position despite the sanctions, and that “the fall in GDP, which was expected, has occurred almost to a minimum.”

He said: “Now we are talking about August – early September, this figure is about 0.5%. And the inflation rate is 13-14%, which certainly did not reach or exceed 30%.”

The Prime Minister emphasized that the responsible financial policy and decisions that were made, first of all, in agreement with the Bank of Russia and led by President Vladimir Putin, “allowed us to focus on these effects and plan all the necessary decisions to support the economy and citizens over a long period of time.”

Source: TASS

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