Finance Ministry hopes budget policy measures have made room for further rate cuts - Siluanov

MOSCOW. Oct 29 (Interfax) - Necessary adjustments will be made to the Russian federal budget for 2026 as it is executed, if the average key rate falls below that which is stated in the draft; however, the Finance Ministry hopes that budget policy has in fact already made room for further rate cuts, Finance Minister Anton Siluanov told journalists at the Federation Council.

Last week, the Central Bank of Russia issued a new forecast for the average key rate in 2026, raising it to 13%-15%, compared with the previous 12%-13% which the Finance Ministry used in calculating the draft budget.

"We will make adjustments during the execution of the budget if we need to - what can we do. But we hope that we have actually made room already [for the rate to be lowered] through budget measures," Siluanov said, asked about the extent to which the CBR's increased average rate forecast for 2026 would be reflected in the budget.

The minister also said that the Finance Ministry would submit the amendments to the government this week before the second reading of the draft budget for 2026 and the planned period of 2027-2028.