The Ombudsman Titov believes that the infusion of money into the economy is not threatened by hyperinflation


MOSCOW, November 11. The infusion of money into the production sector is one of the key ways to bring the Russian economy out of recession without influencing inflation. This is the opinion of the Plenipotentiary for the rights of entrepreneurs under the President of the Russian Federation Boris Titov.

“The solution is simple – create advanced money supply to enable the enterprises to develop: the capacity to modernize, to build new factories, start to produce the goods in Russia, create new jobs,” – said Titov in an interview with today’s “news.”

“Money is the “blood” of the economy, – said the Ombudsman. – Of course, this money must be directed only to investment projects in the manufacturing sector, construction development, perhaps in the housing sector”.

Titov considers that “if there is 1.5 trillion targeted investments – in the form of loans, project bonds, securitized loan portfolios – no impact on inflation, this will not have”. “All these mechanisms we are considering in our working group with the Central Bank” – the newspaper quoted the Ombudsman.

Titov stressed that the described measures prevent the development of inflation in the country, because in Russia it “does not depend on the amount of money in the economy.”