Speaking in Geneva, where Minister of economic development held a meeting with WTO Director General, Ulyukayev said that his Agency has laid in the base forecast forecast consumer price index in 2017 at the level of 4.9%, in 2018 – 4,5%, and in 2019 – 4%.
The speaker stressed that he sees no need to link the forecast with the position of the Bank of Russia, seeking to reach 4% by year-end, informs the Agency “RIA Novosti”. According to him, the Central Bank put the inflation target, and the Ministry of economic development in the foreground is economic development, and then inflation. “There is no need to confuse the two concepts,” he said.
April 20, speaking at the Collegium of the Ministry of Finance, the Governor of the Bank of Russia Elvira Nabiullina called the annual rate of inflation of 4% as a goal, which is planned to be achieved by the end of the year. However, she warned about the risk of getting stuck at 6-7%, Nabiullina called unacceptable.
In addition, the speaker suggested that the price of oil in 2016-2019, will be put in above the forecast of $ 40 per barrel. “If you look at the consensus of the oil and financial analysts, you will see that he, of course, much higher,” explained the Minister.
On April 21 the government approved the revised macroeconomic forecast for 2016 and for scenario conditions in the 2017-2019 years. It assumes an average oil price of $40 for all four years. “In General it is better to deviate the projection in the direction of understating the potential income, than to look for additional reserves to balance the budget,” said Prime Minister Dmitry Medvedev about this.