Source Pravda.Ru

Finance Ministry forecasts fall in inflation

Inflation will be falling 1-2 percent annually over the next two or three years in Russia, Russian Senior Deputy Finance Minister Bella Zlatkis announced at the round-table meeting "The credit standing of Russian regions" today. She noted that this forecast would be taken into account in the 2004 and 2005 budget drafts.

The Deputy Finance Minister reported the successful implementation of the 2002 budget and stated that the positive balance of state loans on the open market was 3bn rubles (about $94m). The total volume of loans attracted by the government on the open market in 2002 reached 120bn rubles (about $3.77bn).

According to Zlatkis, the Cabinet's policy on the open market was becoming a benchmark for Russian regions and republics. "Over the next several years, in the event the situation on the debt market is positive, regions will be able to take loans for five to eight years at a 14-15 percent interest rate," the official was quoted as saying.

Comments
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Who loses and wins most from Caspian Sea division
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Russians tired of Putin's foreign policy
Ukraine dreams of what it can do to Crimea after winning war with Russia
Why Russia continues investing in US public debt
Putin convenes Security Council meeting to discuss new sanctions
Putin convenes Security Council meeting to discuss new sanctions
Putin convenes Security Council meeting to discuss new sanctions
Putin convenes Security Council meeting to discuss new sanctions
Who loses and wins most from Caspian Sea division
Russia to build major naval base on the coast of Caspian Sea
Russia to build major naval base on the coast of Caspian Sea
Russia to build major naval base on the coast of Caspian Sea
Russia to build major naval base on the coast of Caspian Sea
Russia's pension reform to split Putin's majority in Navalny's favor
Russia's pension reform to split Putin's majority in Navalny's favor
US-Russian confrontation: War is peace, freedom is slavery
Russians tired of Putin's foreign policy