Russian Central Bank discussing fiscal rule mechanism with cabinet, says regulator’s chief
Business & Economy
July 22, 2022, 16:25
According to Elvira Nabiullina, the regulator supports the resumption of the fiscal rule, but it will be modified
MOSCOW, July 22. /TASS/. The Bank of Russia is currently discussing the mechanism of the fiscal rule with the government and the finance ministry, the regulator’s chief Elvira Nabiullina told a press conference on Friday, adding that the regulator supports its resumption.
"We are currently discussing the possible mechanism of the fiscal rule with the government, the finance ministry. We support the resumption of the fiscal rule. Of course, it will be modified," she said.
This is an important mechanism ensuring the stability of economic parameters, budget parameters, budget expenditures irrespective of what is going on with the oil and gas environment, Nabiullina noted.