19 Jun 2024 15:09

Russian Finance Ministry ready to adjust inflation estimate during autumn round of amendments to 2024 budget if necessary

MOSCOW. June 19 (Interfax) - The Russian Ministry of Finance is being guided by the current Ministry of Economic Development forecast for inflation at 5.1% in its amendments to the 2024 federal budget, but if the actual inflation rate deviates from it, it is ready to adjust this parameter in the fall, Russian Finance Minister Anton Siluanov said in the State Duma.

"Currently the inflation rate is about 8%; this is higher than the current forecast, but, according to the Ministry of Economic Development, we see that the inflation growth rate should decrease in the second half of the year [...] If we see that the inflation rate differs from today's forecast, then in the fall, when we come to you with proposals for adjusting and clarifying the budget, we can adjust the indicator," he said, answering a question from deputies as to how realistic the current expectations for inflation rates are.

"But today our forecasters say that 5.1% is the estimate we are focusing on today," Siluanov said.