Vladimir Putin: I do not interfere in the work of the Central Bank, but I support it

Источник: The DairyNews
President of the Russian Federation Vladimir Putin commented on the impact of the growth of social spending on inflation, noting that this led to an increase in inflation in all countries with developed economies. The President noted the need to return to the inflation target of 4%, reports The DairyNews from the 17th press conference of Vladimir Putin.

In the leading economies of the world, the growth of social spending has led to an increase in budget deficits, an increase in inflation, the president noted:

‘If we take the world's leading economy, the United States, their inflation rate is 3 times higher than the target. We have doubled it - from the planned 4 to 8. This is a lot and, of course, we need to return to the target of 4%. I understand that many scold the Central Bank, I know the arguments, we discuss this every day, I know the dissatisfaction of the sector, but if we do not raise the rate, we will have the same situation, as in Turkey. I do not interfere in the work of the Central Bank, it works independently, but I support it.

In general, the president believes, so far the "golden mean" in this matter has been found.

Vladimir Putin added that the pandemic affects not only the social sphere, but also business, especially small.

‘We have developed support for all leading industries and all large enterprises, holdings, they have worked almost without failure. For small and medium-sized enterprises - catering, gyms, cinemas, museums - of course, they suffered first of all, but they were helped first of all: direct support, preferential lending, installments in the payment of loans, preferential rent, a number of measures are still in effect. Probably, it was possible to do something faster, but all this happens in direct contact with the business community. We have overcome the crisis, I repeat, faster than many of the world's leading economies,’ the president said.



20.05.2022
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