Siluanov: Russian authorities managed to avoid an inflationary spiral

Siluanov: Russian authorities managed to avoid an inflationary spiral


In Russia managed to prevent a situation where after the inflation indexed spending budget, after that increases inflation, and so on, said the Minister of Finance.

MOSCOW, 27 Jan. The Russian authorities managed to prevent the scenario of “inflationary spiral” in the current year; next year the Finance Ministry expects a significant reduction of inflation, said Finance Minister Anton Siluanov, speaking at the “government hour” in the Federation Council.

“The main thing that we managed to prevent an inflationary spiral inflationary spiral, when indexed for inflation, budget expenditure, with the indexation of budgetary expenditure increases in inflation, and so on and so forth. We know, too, passed. And now, despite all the difficulties, we managed to prevent such development of events”, — said the head of the Ministry of Finance.

“We managed to curb inflation. If we remember, 7.3% in the first quarter inflation was, in the second quarter to 1.1% in the third quarter to 1.8%. And this year we expect the inflation rate to about 12-12,2%, this rate will fluctuate levels of inflation. Next year the rate will decline substantially, we expect a significant reduction in the rate of inflation,” — said Siluanov.