Dmitry Medvedev: achieving inflation of 4% is quite real

Dmitry Medvedev: achieving inflation of 4% is quite real


The government summed up the results of work over the past year and outlined an action plan to 2025

Photo: press service of the government of the Russian Federation/government.EN

Inflation in 2016 reached its lowest level in recent history of Russia and amounted to 5.4%. This was stated by Prime Minister Dmitry Medvedev during the meeting, which was devoted to results of implementation of the action Plan in the economy in 2016 and to discuss the draft Integrated plan of action for the 2017-2025 years. In 2017, the Prime Minister said that to really reduce inflation to 4%.

Summing up the work over the past year, the Prime Minister said that most of the points of the plan of action for ensuring sustainable socio-economic development in 2016 is done.

— Year was difficult: sanctions, low prices, structural imbalances — all of this is complicated work, but in General with many problems managed to cope. Most of the items we were able to find the money, done funded high-priority projects, including programmes to support individual sectors — automobile, light vehicle and agricultural machinery, he said. — Under this plan, we helped the regions to reduce the debt burden.

According to Dmitry Medvedev, the government managed to maintain macroeconomic course, to ensure the stability of capital markets and seriously reduce inflation.

— Its value in 2016 minimum in the recent history of Russia — 5,4%, — said the Prime Minister. — The achievement of the inflation target, the so-called target, 4% in 2017 is realistic.

Create the conditions for accelerated import substitution in some positions, including agricultural production, said Dmitry Medvedev. In addition, managed to ensure the predictability of budgetary and tax policy.

— But most importantly — was able to maintain the people’s trust and business. This gives hope for the resumption of investment activity, Prime Minister said. — Already, some analysts say the Russian market is one of the most promising for investment. Therefore, the experience which we have received, carrying out the plan of action last year, should be used in the preparation of the new document — the Comprehensive plan of actions of the government in the years 2017-2025.

Dmitry Medvedev recalled that the presidential address to the Federal Assembly, the President set the task to get on the pace of economic growth exceeding the global average by the 2019-2020 years.

Following the meeting, the Minister of economic development Maxim Oreshkin said that the Agency already has a rough plan for improving economic growth, but its final version will be presented in may.

— You will work together with the business associations and analytical groups. Some version of the plan we already have. We communicate very closely with business associations to hear what they have to offer. In March we will already have a workable version, — said the head of Ministry of economic development.

See also:

The strong rouble and weak growth

Tseplyaeva — that can contribute to the growth of the Russian economy in 2017

From adaptation to growth: what awaits Russian economy in the coming year