Economic Development Minister Maxim Reshetnikov said that the domestic economy is again transitioning to growth, including thanks to government measures taken in coordination with the Central Bank.
In an interview with the information service "Vesti", he stressed that coordinated work allows minimizing the consequences for the economy in the current situation and normalizing financial and monetary policy. Ultimately, in his words, the country is returning to economic growth.
The source of GDP growth, as the minister noted, was not only the budget impulse, but also consumer demand. He explained that there is a revival of private consumption, including due to accumulated resources that the population and enterprises formed in deposits in previous years.
In addition, thanks to the consistent policy of the Bank of Russia to carefully reduce the key rate, inflation has also decreased, added Reshetnikov.
Earlier, the Ministry of Economic Development reported that as of August 10, annual inflation was 6.05 percent versus 6.02 on August 3. According to preliminary estimates by Rosstat, in the second quarter the economy grew by 1.3 percent year-on-year after a decline of 0.2 in the first.
These data turned out to be better than the expectations of the Central Bank and the ministry: according to their forecasts, the indicator was supposed to grow by 0.8-0.9 percent for the specified period.
Source: RIA Novosti