Cbanker says inflation pressure rises in Russia due to VAT hike
MOSCOW, Jul 9 (PRIME) -- The inflation pressure has slightly increased on the back of the governmentТs plans to raise value added tax, Central Bank First Deputy Chairwoman Ksenia Yudayeva told the State Duma, parliamentТs lower house, on Monday.
УWe can see a difference in our and the governmentТs inflation assessments for this year. The government projects 3.1%, while we expect 3.5-4%. We believe that inflation pressure has somewhat increased. We may see the influence of expectations of new tax measures introduction,Ф she said.
УNext yearТs (inflation) estimates are very close. We project 4-4.5% and the government 4.3%.Ф
Earlier in June, the State Duma approved a bill raising VAT to 20% from 18% in the first out of three required readings.