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суббота, 5 августа 2017 г.

Why growth rates ahead of inflation?

Elvira Nabiullina: the Growth rates should be slightly ahead of inflation

Elvira Nabiullina: the Growth rates should be slightly ahead of inflation
The Ministry of economic development considers as the most preferred option of tariff increases for natural monopolies and housing and communal services at the level of inflation plus 1-2%. This was reported to journalists by the head of the Ministry Elvira Nabiullina on the sidelines of St. Petersburg economic forum.
"Calculations show that it is possible to reduce tariffs in comparison with those that were laid earlier," - said E. Nabiullina. However, she clarified that the increase will affect "gas for industry, rail transport and adjustable electric power".

The increase in tariffs under the scheme will be undertaken in the next three years. "We are looking at the prospect of the 2012, 2013 and 2014.", - said E. Nabiullina. The Minister also noted that the proposals of the Ministry of economic development to raise rates will be available before the end of this month.
Thus, the head of the MAYOR actually supported Deputy Prime Minister and Finance Minister Alexei Kudrin, who first publicly floated the idea a few days ago. The Finance Minister then said that with inflation below 7% is necessary to increase the rates by the same amount, but add a few percentage points above. Otherwise the whole sector will lose attractiveness to investors, he explained.
Earlier, Prime Minister of the government of the Russian Federation Vladimir Putin launched an initiative to limit growth of tariffs of natural monopolies by level of official inflation, calculated by Rosstat.
The official government forecast for inflation for the current year is 7-7,5%. However, international organizations are skeptical, believing that to keep consumer prices at this level unlikely. So, the international monetary Fund (IMF) forecasts inflation in Russia by the end of the year at 8%, the world Bank (WB) expects a 7.5-8%.
In January-may consumer prices in Russia rose by 4.8%, mainly due to the food, growth of tariffs of natural monopolies and the price of gasoline. The Bank of Russia expects that in June inflation will add another 0.4 percentage points, reaching at the end of the first half of 5.2%.
Currently, the tariffs for gas, electricity and other necessary services grow significantly faster than inflation (at least officially). So, internal tariffs for gas annually raise on 15%, electricity by 10% per year, and overall, limiting the growth of cost housing-utilities (ZHKU) approved by the government at level of 12,7%.
While inflation in the last two years, according to Rosstat, did not exceed 9%.


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