Putin instructed to reduce inflation to 4% – Interfax

Moscow. September 28. INTERFAX.RU – the Russian Economy is gradually overcoming the recession, but positive trends are fragile, it is necessary to stimulate economic growth, while reducing inflation in the medium term to 4%, said Russian President Vladimir Putin at a meeting on budget matters.

“the Macroeconomic situation remains difficult, the Russian economy is gradually overcoming the recession, however, the positive trend is still fragile. Again: we must ensure that such macroeconomic conditions that encourage the growth of the national economy and the preservation of the downward trend of inflation. In the medium term need to reach the level of inflation of 4%,” – said the President.

Putin noted that the government’s work on the draft Federal budget is in the final stage – before the 1st of November he has to act for consideration in the State Duma. “I’m sure when the work on the main financial document of the country the government will be able to establish a constructive dialogue with the new composition of the lower house of Parliament,” – said the President.

tax Collection

As President, entrepreneurial activity is still recovering and working to improve the collection of taxes in certain sectors of the economy should not lead to its suppression.

“I Know that the government is considering various options for improving tax collection in some sectors of the economy, and would like to stress that these measures should not lead to the suppression of entrepreneurial activity, which is still only recovering,” he said.

in addition, he said, “we need to continue to reduce the dependence of Federal budget on oil prices, to improve administration and enhance tax collection and other payments, particularly VAT and customs duties”.

Inflation

According to the latest forecast of Ministry of economic development, in 2016-2019 level inplay will be of 5.8% and 4.9%, 4.4% and 4.1% respectively. Vladimir Putin said that inflation by the end of 2016 will amount to 5.7%.

“We go confidently in the direction of overcoming difficulties. Let me remind you last year on such a key parameter, as inflation was at 12.9%. And this year is 5.7%. First talked of 5.9% and is now 5.7 percent,” – said Putin at a meeting with leaders of parliamentary parties last week.