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Russian PM predicts 4% inflation fairly feasible this year

January 10, 14:26 UTC+3

Medvedev stressed that in 2016 the inflation in Russia has hit its record low of 5.4%

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© Vladimir Smirnov/TASS

GORKI, January 10. /TASS/. Russia can reach the inflation level of 4% this year, Prime Minister Dmitry Medvedev said on Tuesday.

"Delivery of the 4% inflation target for this year is fairly feasible," Medvedev said.

Inflation as of 2016 year-end turned out to be the all-time low throughout the contemporary history of Russia and totaled 5.4%, he added.

Such conditions were met due to the implementation of the 2016 government’s action plan for accelerated import substitution in individual industries, including agricultural sector. The main achievement is that confidence of people and business is maintained, the premier explained.

"This gives a hope for recovery of investment activity. Certain analysts already say the Russian market is one of the most promising for investments," Medvedev said.

The Russian premier stressed that all that was done despite the challenging situation in the economy caused by sanctions and low prices on energy carriers.

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