PM: 2022 budget stimulus for Russian economy to exceed 8 tln rbl

MOSCOW, May 13 (PRIME) -- The budget stimulus that the Russian government will provide to the economy in 2022 should exceed 8 trillion rubles, Prime Minister Mikhail Mishustin said on Friday during a government meeting.

“The government is keeping an eye on the situation in all of the industries. We are preparing additional support measures for the business. They are being included in the priority action plan. In general, the financial provision of the measures exceeds 5 trillion rubles if we take into account not only the direct support, but tax delays as well. We are implementing other measures as well,” he said.

“The budget stimulus will exceed 8 trillion rubles this year,” he said, adding that the government will adhere to a strict financial discipline akin to what it did during the coronavirus pandemic to ensure the stimulus.

The government has to balance spending on the support measures and maintaining the pricing stability in Russia, he said.

Mishustin also said that spending of the federal budget grew almost by 25% on the year in January–April, but the increase of budget revenue based on a higher income from oil and gas exports allow the authorities to cover the spending and expand the government’s reserve fund by 1.4 trillion rubles since the beginning of 2022.

(65.7916 rubles – U.S. $1)

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