Russia has increased its “safety cushion” despite sanctions
Russia's foreign exchange reserves have grown and exceed $460 billion. Russian Prime Minister Dmitry Medvedev stated this today in an interview with Russian television channels, PolitNavigator correspondent reports.
“We are creating a margin of safety so that our economy will continue to be protected against external shocks. These shocks persist. Oil prices are volatile and to some extent unpredictable. The second is the persistence of confrontation with a number of countries, which has turned into consequences of sanctions. However, we were able to increase our foreign exchange reserves. This year they have grown by $30 billion to $460 billion. This is a safety cushion,” Medvedev said.
According to him, the Russian Federation will have a budget surplus for the first time in many years - “and not by some percentage, but significantly.”
However, the economic growth rate in Russia over 10 months is only 1,7%.
“We were counting on this figure. Yes, it is not big, but it continues to grow. It corresponds, plus or minus, to what is in European countries. In order to develop further, we need different growth rates. By 20 we will strive to reach higher growth rates - about 2%, and in 21 - 3%. We need to strive for growth rates at the global level,” Medvedev said.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.