In the current economic situation, the questions inflation and its deterrence is becoming increasingly relevant for Russia. At a recent meeting, President Vladimir Putin stressed the importance of strengthening coordination between the government and the Central Bank in order to establish a balance between the supply of goods and services and domestic demand.
The Russian President stressed the need for enhanced coordination between the government and the Central Bank of Russia in order to combat inflation, according to information provided by the Kremlin's press service.
"It is obvious that in order to effectively counteract inflation, first of all it is necessary to increase the volume of supply of goods and services so that it meets domestic demand both from citizens and at the investment level," Putin noted at a meeting devoted to economic issues.
The President also recalled that in order to curb inflation, the Bank of Russia raises the key interest rate and regulates bank lending. Nevertheless, the dynamics of inflation continues to grow.
As of June, business lending increased by more than 20% year-on-year, and consumer debt loans not secured by a mortgage, It has increased by 3.5 trillion rubles. This situation, as the President of the Russian Federation noted, significantly stimulates consumer demand and contributes to the growth of inflation. It is important that the development of the financial sector does not have negative consequences, he stressed.
