Minister: No risks for plans to prevent ruble volatility, cut CPI

VLADIMIR, May 19 (PRIME) -- There are no risks for the Russian government plans to prevent ruble volatility and cut inflation, Finance Minister Anton Siluanov told reporters on Friday.

Previously, the central bank said that possible volatility on the world markets may become the major source of inflationary risks in the short-term, including volatility prompted by negotiations on the oil production cut by the oil exporting countries. This may lead to a temporary increase of volatility of capital flows and currency exchange rates, the regulator said.

“The central bank actually provides forecasts that in general correspond with forecasts of the government. This year we see inflation at 3.8%...and next year, it is expected at about 4%. So we are doing everything possible together with the central bank to prevent volatility of the ruble rate, decrease the inflationary pressure, and ensure the plans to cut inflation and increase real incomes of households and companies,” Siluanov said.

“So I would not speak about risks to implementation of estimates and plans of the government now. The situation is understandable, and I think there are no reasons to speak about some possible unforeseeable circumstances.”

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