PM: Russia plans return to normal budget policy in 2022

MOSCOW, Jan 13 (PRIME) -- A return to a normal budgetary policy in 2022 will help decrease inflation, Prime Minister Mikhail Mishustin said during the Gaidar Forum on Thursday.

"There are plans to return to regular parameters of the budget rules this year, which will favor reduction of inflation and balanced development of the economy based on private investment," Mishustin said.

Mishustin also said that the 2021 budget had surplus. "In spite of the significant additional costs, the government has managed to keep macroeconomic stability. The budget was fulfilled with surplus," he said.

The economy recovered after shocks faster than the expected, and the gross domestic product (GDP) reached the pre-pandemic level in April–June. Industrial output and cargo traffic performed greatly, employment recovered fast, and domestic demand remained high. The traditional exports situation remained favorable, Mishustin said.

He also said that the COVID situation changed seriously compared with 2021, but there were significant risks still.

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