UPDATE: RussiaТs CPI to amount to 3% in 2018, 4-4.5% in 2019 - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: RussiaТs CPI to amount to 3% in 2018, 4-4.5% in 2019

(Adds last 4 paragraphs)

MOSCOW, Jun 20 (PRIME) -- RussiaТs inflation will amount to around 3% in 2018 and 4Ц4.5% in 2019, and pensions will be adjusted accordingly, Finance Minister Anton Siluanov said on Wednesday.

УWe expect inflation at around 3% this year and at 4Ц4.5% next year. Considering the fact that pensions are adjusted basing on previous yearТs inflation, the adjustment will be twice as large as pensions projected for this year,Ф he said.

Siluanov also said that the budget rule, under which energy revenues from oil sold at over $40 per barrel are used to buy foreign currency on the domestic market, makes the ruble more predictable.

УBut for the budget rule the ruble would cost around 50 per U.S. dollarЕ Of course, the ruble would be stronger but we would also have an opposite movement if oil deflated. Such volatility and unpredictability may hurt entrepreneurs,Ф he said.

УThe main task is not so much to form reserves, which is also important, as to ensure predictability for business in what relates to the exchange rate.Ф

The minister also said that compulsory health insurance payments to unemployed people amounting to around 500 billion rubles annually may be transferred to the federal budget.

(64.0683 rubles Ц U.S. $1)


20.06.2018 13:11
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