Siluanov declared the immutability of the basic principles of Russia's budget policy

There is no need to revise the basic principles of budgeting, as they remain relevant regardless of economic changes. This was announced on December 10 by Finance Minister Anton Siluanov in an interview with Expert magazine.

He noted that the Ministry of Finance continues to improve cost management, reduce budget dependence on oil and gas revenues and reduce interest rate risks. For this purpose, the budget rule for the base price has already been adjusted and the approaches to subsidization are being updated.

In addition, the minister added that a systematic assessment of tax benefits is being conducted for their effectiveness, and measures to reduce the shadow sector will help increase budget revenues.

"If you look at the budget debate 100 or 200 years ago, you will see that nothing is changing. There is always a desire to spend more. And the Ministry of Finance always stands on the position that we should spend as much as we earn," the Finance Minister stressed.

He also recalled the words of Russian statesman Mikhail Speransky, who warned about the dangers of even the most useful undertakings if they are carried out in debt and lead to an imbalance of finances.

The Finance Minister stressed that in the long term, the basis of fiscal policy will remain the same: the adjustment of parameters will continue, but the basic laws of financial discipline must be respected unconditionally.

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Earlier, on December 9, Siluanov said that fiscal stimulus of the economy could not be a long-term process, as it would eventually lead to an imbalance in the financial situation. According to him, the ideal model is a combination of a tight budget and a soft monetary policy. However, the opposite situation has been observed in recent years. The minister noted that it is necessary to create conditions for the Central Bank to reduce rates, and the approach of the Russian financial department will help in this.

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