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Finance minister warns increase in value-added tax to 22% may affect inflation

MOSCOW, March 13. /TASS/. An increase in value-added tax to 22% may cause a one-time inflation increase amounting to 2 percentage points, Russia’s Finance Minister Anton Siluanov said Monday.

"If we want to raise indirect taxation by 4 percentage points this will affect inflation," he said, adding that "a one-time [inflation] increase may exceed 2%.

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Russian PM predicts 4% inflation fairly feasible this year

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