MOSCOW, December 11. The Deputy Minister of Finance Maxim Oreshkin believes that the situation with the VEB does not have a significant impact on macroeconomic indicators. He stated this at the annual business luncheon of the newspaper “Vedomosti”, “the Macroeconomic forecast 2016 Best investment strategy”.
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“The shock will not. From the point of view of macroeconomics is not a factor that can lead to macroeconomic impacts,” said Oreshkin.
He added that the VEB problem should be solved. “This is a microeconomic problem, rather than macroeconomic”, – he stressed.
Earlier, the Minister of economic development of Russia Alexei Ulyukayev said that the VEB is advisable to capitalize through the issuance of bonds (OFZ bonds) this year.
The political decision to support the state Corporation has already been made, the state must in the near future to determine the form of support. Help options are under active discussion with financial authorities and representatives of the Bank.
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VEB for the second year shows a loss. The loss of Vnesheconombank group in 2014, according to international standards amounted to 250 billion rubles In the first half of 2015, the loss of the Corporation amounted to 73.5 billion rubles, the Bank’s Assets for the first half of this year amounted to 3.85 trillion rubles.
The Minister of Finance of the Russian Federation Anton Siluanov declared earlier that VEB is likely to be provided with the necessary support from the budget, while the budget deficit in 2016 will not exceed 3% with the exception of expenditure on financial assistance of the Corporation.
According to first Deputy Prime Minister Igor Shuvalov on December 9, funds for the recapitalization of Vnesheconombank, will not be counted in the limit of the budget deficit for 2016 3% of GDP.
