The Government of the Russian Federation has developed an index for achieving financial sovereignty of the country

The Russian government has developed an index for achieving the country's financial sovereignty. This was announced on June 5 by Deputy Finance Minister Ivan Chebeskov at the session "Reassembling the Global Financial System" at the St. Petersburg International Economic Forum (SPIEF).

"By state sovereignty, we probably all mean the ability of the state to pursue a state policy independent of external influence," he said.

According to the minister, Russia's financial sovereignty is in the process of being formed. At the moment, from the point of view of internal policy, most of the parameters have already been achieved.

"For this purpose, the government has developed a certain index for achieving financial sovereignty. Because we have an independent macroeconomic policy, the Central Bank has an independent monetary policy, and the fiscal policy is independent. We have no problems with the functioning of the financial market, settlement and payment infrastructure and so on inside the country," he explained.

According to the Deputy Finance Minister, when discussing the financial independence of the state, it is necessary to keep in mind the external component of sovereignty. Chebeskov pointed out that the entire global financial system is currently undergoing a transformation, and the reassembly was launched by more "deep processes" than anti-Russian sanctions.

"It seems to me that all these processes are not a temporary phenomenon, it is a big global trend. And we are part of this trend. I think that the reassembly and transformation will definitely take place," concluded Chebeskov.

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Yesterday, Russian Finance Minister Anton Siluanov said that Russia was able to achieve financial sovereignty and today independently makes key decisions in the economic sphere without dependence on other states and international financial institutions. The Minister noted that the country does not depend on loans from international organizations, has its own financial infrastructure and independently determines budget and economic policy.

Russian leader Vladimir Putin noted on May 26 that without Russia's economic sovereignty, no other country's sovereignty is possible. Putin said that over the past two years, in difficult conditions, the Russian economy has grown at a faster pace. According to him, the year before last the progress was 4.1%, and last year it was 4.3%.