Bank of Russia to address new budgetary policy parameters when updating macro forecast

TASS

MOSCOW, September 30. /TASS/. The Bank of Russia is going to cater for new parameters of the budgetary policy when preparing an updated midterm macroeconomic forecast, the regulator said in its draft Monetary Policy Guidelines for 2027-2029.

"The Bank of Russia assumes in the base-case scenario that the primary structural deficit will gradually contract from 2% of GDP in 2026 to 1% of GDP in 2027 and 0.5% of GDP in 2028, with the zero level to be reached in 2029," the regulator noted.

"According to new budget projections, the path of the primary structural deficit during the two coming years is slightly lower than assumptions in the July baseline forecast of the Bank of Russia. With all other things being equal, it means a slightly lower contribution of the budgetary policy to the total demand than it was anticipated in July," the regulator said.

The Central Bank will take into account new parameters of the budgetary policy when updating the midterm macroeconomic forecast to be released on October 23 of this year, it added.

Fonte: TASS