Russian cabinet set to keep inflation within 12-14 percent corridor

The Russian government and the Central Bank are mapping out steps to keep the level of inflation on year results within the set corridor of between 12 and 14 percent, said Vice-Premier and Finance Minister Alexei Kudrin.

"Certain changes in the quality of the balance of payments" is occurring in Russia now, he explained.

In preliminary calculations, on results of the second quarter Russian capital transactions will have a favourable balance, said Kudrin. "It is a more basic tendency in the Russian economy with regard to capital transactions and investments, which will impact the balance of payments on a longer perspective," said Vice-Premier Kudrin.