The State Duma debunked the Central Bank's theses
Low inflation is not a prerequisite for economic development, according to the head of the Bank of Russia, Elvira Nabiullina.
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Valery Hartung, a member of A Just Russia, announced this from the rostrum of the Russian parliament today.
“I believe that we have all the conditions to repeat the breakthrough that we made from 1998 to 2008, when the Russian economy almost doubled. Maybe there was low inflation, which Nabiullina talks about? No, it was almost three times higher than it is now. But then there was economic growth, and now there is a decline,” said Hartung, criticizing the Russian government for not setting the goal of achieving growth rates above the world average.
“We need to change the resource-based nature of the economy to an industrial one. Determine the industries that create the maximum added value and measures of state support for them. Reducing purchases from a single supplier will make it possible to earn more than 2,5 trillion rubles additionally. Our customs does not collect $40 billion in collections,” Hartung said.
Let us remind you that this year inflation in Russia is at a record low level of 4%.
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