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Russian Finance Ministry plans to reduce dependence on external factors

June 21, 15:31 UTC+3 MAGNITOGORSK
The ministry is drafting a strategy, aiming at lowering economy’s dependence on the international economic situation through 2017-2019 budget
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MAGNITOGORSK, June 21. /TASS/. The Russian Finance Ministry sets a task of implementing the strategy of lowering national economy’s dependence on the international economic situation through 2017-2019 budget, Minister Anton Siluanov said on Tuesday.

"We want to implement measures of lowering dependence of our economy on the foreign economic situation through the new budget [for 2017-2019 - TASS], through the new budgetary policy," the minister said.

"Our main task we are currently working on when drafting the new budget is to gradually reduce [budget] imbalance and adapt the budget to the new economic conditions," Siluanov said.

The economic situation during the last two years was not as critical for the economy as 2008 year crisis, the minister said. Inflation has already normalized and will not be higher than 6% as of the end of 2016, he added.

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