Putin: many leading economies of the world agreed to soften macroeconomic policy
Photo: Mikhail Metzel / Reuters
President Vladimir Putin compared the rise in prices in the United States and Russia at a major annual press conference. The broadcast is hosted by the Russia 24 YouTube channel.
“This [increase in social spending] is one of the key issues in maintaining macroeconomic stability, because many of the world's leading economies have relaxed their macroeconomic policies and have significantly increased the intensity of their printing presses,” Putin said.
“This is an obvious thing, and this has led to a fairly large inflation in the leading economies, and this is also obvious, everyone can see it – the numbers that are in front of everyone's eyes. Budget deficits are growing in all leading countries. There is a little more in the States, a little less in the eurozone, but it is also very significant and unusual for them. If we take the leading economy in the world, the United States, they already have inflation of 6.1 or 6.2 percent, ”Putin said.
According to the forecast of the Central Bank, inflation in Russia at the end of 2021 will be 7.4-7.9 percent. As of the end of November, annual inflation in the United States was 6.8 percent.
