Russian Econ Ministry expects CBR to continue to follow logic of softening monetary policy - Reshetnikov

MOSCOW. June 25 (Interfax) - The Russian Economic Development Ministry expects the Central Bank of Russia to continue to follow the logic of softening monetary policy amid slowing inflation, Economic Development Minister Maxim Reshetnikov said during a meeting with foreign envoys in Russia.

"Inflation is slowing down... This has allowed the Central Bank to lower the key rate. We expect the bank to continue to follow the logic of softening monetary policy going forward," the minister said of the economic situation.

He said that Russia had "retained its macroeconomic stability", while "the growth in non-oil revenue keeps the budget sustainable".

"We are maintaining a positive trade balance. State debt stood at less than 14% of GDP last year and is still at this level this year," Reshetnikov said.