Minister of Economic Development Maxim Reshetnikov spoke about risks for Russia’s economic growth, RBC reports. According to him, they can be the price volatility, world market conditions and internal risks associated with monetary and budget policy.
As explained by the reshetnikov, enhanced inflation pressure is external and internal factors. External risks are the acceleration of world inflation and violation of value added chains, in particular, the growth of container tariffs and container transportation.
The main inner obstacle is the situation with harvest, since due to bad weather deliveries to the market are delayed. In addition, the economy of Russia can negatively influence the budget and monetary policy. “It is important for us that in the context of tightening monetary policy budget policy remained neutral,” the minister noted.
Earlier, the Organization for Economic Cooperation and Development (OECD) dramatically worsening its forecast of Russia’s GDP growth for the current year from 3.5 percent expected in May to 2.7 percent. The forecast for inflation in 2021 changed the Ministry of Economic Development of Russia – from 5 to 5.8 percent. According to the latest Rosstat data, by mid-September, inflation rose to 6.84-6.85 percent.