Russian Finance Minister Assures Budget Stability
(MENAFN) Russian Finance Minister Anton Siluanov stated on Wednesday that the government is committed to fully honoring its budget commitments even if new sanctions and restrictions are imposed on Russia.
Addressing the Duma, the lower chamber of the Russian parliament, he declared: “Even if additional restrictions and sanctions are imposed, everything foreseen in our budget for this year will be fulfilled.”
This statement underscores the government’s confidence in maintaining fiscal discipline despite external pressures.
Siluanov reassured lawmakers that, in the event of further sanctions, the administration will take measures to safeguard financial and macroeconomic stability, ensuring the budget remains balanced.
He also mentioned that no major modifications to tax policies are currently planned.
Regarding the coal industry, which has experienced falling revenues, Siluanov commented: “Despite the difficult situation in the coal industry, I cannot say that the situation is critical in general. It clearly requires state support.”
His remarks suggest a cautious but steady approach to managing this sector’s challenges.
Since the beginning of Russia’s military action in Ukraine in 2023, Western nations, particularly those in the European Union and the United States, have imposed a range of sanctions aimed at crippling the Russian economy.
These measures include embargoes and financial restrictions targeting key sectors.
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