Since 1998 inflation level in Russian dropped by 4 times

On Saturday while speaking at the expanded meeting of the board of the Finance Ministry devoted to the 200th anniversary of the Russian financial department Vice Premier and Finance Minister Aleksei Kudrin stated that during the period from 1998 till the present time the inflation level in Russia reduced by 75%.

According to Kudrin, as a result of the financial and credit policy waged by the government they managed to achieve some positive results. One of them was the decrease by 67% since 1998 of the level of the Russian state debt in relation to the gross domestic product (GDP). Thus, according to Kudrin, the situation in Russia with the level of state indebtedness is much better than in such countries as France, Hungary and Turkey.

Aleksei Kudrin also emphasized that presently the GDP level is 24.5% higher than the level of the gross domestic product in the relatively prosperous 1997.

The head of the Finance Ministry also pointed out that the results of the financial and economic policy of the government were conducive to the reduction of capital flight from the country. This year it is expected to be significantly lower than it used to be before.

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Author`s name Editorial Team