Russian Finance Minister Critical of Government's Financial Policy
Posted on: Friday, 10 February 2006, 18:00 CST
Text of report by Russian news agency ITAR-TASS
Moscow, 9 February: Finance Minister Aleksey Kudrin today announced that he disagreed with a number of aspects of the financial policy of the government "in the present situation," Prime- TASS reported.
Speaking at a news conference, the minister said that, in particular, he is against increasing the cut-off [oil] price for transfer of funds to the Stabilization Fund to 27 dollars per barrel. "We came to the problem of fighting inflation with even smaller reserve and smaller funds," he thought.
Kudrin noted that already on the basis of the results of the month and a half of this year, the average price of Urals amounted to 59 dollars per barrel and the price of Brent is predicted to stay at the level of 60-62 dollars per barrel. "Thus, we should be prepared in order to go through the trial by high oil prices."
He expressed dissatisfaction with the exchange rate of the rouble, noting that in the last year the currency strengthened 10.7 per cent and this undermines the competitiveness of Russia's industry.
Source: BBC Monitoring Former Soviet Union
Related Articles
- Hearst Corporation to Increase Per Share Offer Price Payable in its Offer to Acquire Remaining Public Stake in Hearst-Argyle Television
- Supermicro Sets New Performance-Per-Watt and Per-Dollar Standard for x86 Server Market
- BEA Sets $21-Per-Share Sales Price
- Per Barrel Price of Iranian Oil Hit $50.5
- U.S. Dollar, Gold Prices Slide in Europe
- Oil Prices Soar Above 62 Dollars a Barrel
- Solvay Engineered Polymers, Inc., Announces an Increase of Ten Cents Per Pound on Prices of Its Thermoplastic Polyolefin Materials
- Crude Oil Futures Rise Above 65 Dollars a Barrel
- Oil Prices Touch 66 Dollars a Barrel on Lower Supply Outlook
- Crude Oil Futures Close Above 62 Dollars a Barrel in New York
 |
 |
User Comments (0)
RSS Feeds