The Minister of Integration and Macroeconomics of the Eurasian Economic Commission and the ex-adviser to Russian President Vladimir Putin Sergey Glazov proposed to fight inflation with the help of export duties for commodity stock goods, write “Vedomosti”.
In his opinion, the current measures to combat price increases are controversial, others need. “It seems to me that the best way would be to protect our economy from the inflationary wave from abroad – to use the tool that we actively used in 1992-1993 – to introduce export duties on stock exchanges for which the price is going on,” offered he.
Additional income can be sent to targeted investment programs, considers Glazyev. For example, to increase import substitution. This will allow to saturate the market in goods and reduce inflation by increasing the supply of our own goods, noted by Putin’s ex-adviser.
Similar measures are already accepted by the authorities. So, due to the sharp rise in prices for metal, the government introduced export duties for removal of non-ferrous and ferrous metals from August 1 to December 31, 2021.