Russian Knights aerobatic team to perform at Dubai airshowMilitary & Defense July 20, 21:28
Russia looks to its Navy to become world secondMilitary & Defense July 20, 19:10
ExxonMobil disagrees with US Treasury Department’s decision to assess fineBusiness & Economy July 20, 18:45
Putin signs decree on Russia’s navy policy until 2030Russian Politics & Diplomacy July 20, 18:39
Putin personally congratulates human rights champion Alexeyeva on her 90th birthdaySociety & Culture July 20, 18:20
Russian boxer Povetkin reinstated into WBO’s ratings, ranked eighthSport July 20, 18:08
Russia’s Syria campaign spending within current combat training costs — Defense MinistryMilitary & Defense July 20, 17:59
Putin says 80% of Russians friendly to people from different ethnic groupsRussian Politics & Diplomacy July 20, 17:51
Russia to develop cruise missiles capable of striking targets at 1,000km rangeMilitary & Defense July 20, 17:42
MOSCOW, January 13. /TASS/. Spending of the Reserve Fund declines as oil prices grow and it will remain as of the end of this year, Russian Minister of Economic Development Maxim Oreshkin said at Gaidar Forum.
"As far as the budget system is concerned, then considering the oil prices growth early this year, we have an excellent opportunity to cut spending of the Reserve Fund and keep the Reserve Fund as of the end of this year," Oreshkin said.
Russia’s Economic Development Ministry considers the 4% inflation target for 2017 to be attainable:
"I see no serious threats for our inflation target of 4%," he said.
Meanwhile, Chief of the Center for Strategic Research (CSR) and ex-Finance Minister Aleksei Kudrin said that inflation in Russia should slow down to 2-2.5% over mid-term.
"The key element of the monetary policy is the goal to keep inflation below 4%. Out today’s target is 4% for the next three years, though we need to lower it to 2-2.5% over midterm already," he said, adding that this will help "reduce the cost of the country’s resources and provide the basis for long money."
In 2016, inflation amounted to 5.4% in annual terms. The Central Bank’s key inflation goal till the end of this year within its inflation targeting policy is 4%.
Russia’s GDP growth will exceed 1% in the first half of this year:
"The Economic Development Ministry’s official outlook for this year is 0.6% [GDP] growth. We expect 2017 growth to be greater than forecasted. In the second half of 2017 [GDP] growth may exceed 2%, which means that it may be higher than 1% already in the first half of the year," the minister said.