Source Pravda.Ru

Central Bank deputy head on creation of stabilizing fund

The creation of a stabilizing fund is inevitable in Russia, Central Bank Deputy Chairman Oleg Vyugin voiced his opinion today at a banking conference devoted to the banking capital in regional economies. The creation of a stabilizing fund is in fact the only way to strictly control the inflation in Russia. The creation of this fund could promote the hindering of the inflation growth and it is possible that the Central Bank's role in forming the currency policy will be decreased, he declared.

Vyugin believes that additional export revenues of the Russian budget should be accumulated in the fund and they should be used only in the event of an unfavorable economic situation.

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