I have no doubts that Russia's position will be supported. |
If inflation is 3-4%, interest rates will drop to 5-7% and loans could be issued for 10 years. |
It is the first time in my experience that major changes that were rejected during preliminary considerations have been made to such a high-profile document without prior discussion by the Cabinet and coordination with the main ministers. |
Lowering inflation to 3-4% annually should be a priority, a major instrument of economic policy, and we have the means to lower inflation to this level. |
That is why we do not understand the U.S. dollar at the moment as the universal or absolute reserve currency. |
That means that the Russian prime minister took personal responsibility [for the decision]. |
The pilot project to use the funds [allocated for the purpose] will be possibly determined. |
This is not just a question of supplies of oil or gas, though they of course play a serious role. |
We are proposing to define the budget deficit excluding oil revenues, instead of immediately cutting spending, and to refrain from increasing [the deficit]. |
We are working in this direction. |
We informed our partners about the development of the gas industry in Russia. |
We should know how much we have in a non-oil budget. |
We will have to raise VAT again in a couple of years. |