12:1515.12.2016
(updated: 12:33 15.12.2016)
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MOSCOW, 15 Dec — RIA Novosti/Prime. the Government has not gone the way of pumping money into the economy, increasing budget deficit, public debt, otherwise they would go back to a situation 1990-h years, said Prime Minister Dmitry Medvedev during an interview with Russian television.
Answering the question of why the government in the current difficult conditions did not decrease taxes and increase government spending, stimulating economic growth, the Prime Minister said, “I just say that, of course, there’s always a choice between those solutions that need to be taken. And there is a Russian proverb: “On odezhke stretch legs”. In other words, it is impossible to plan for some rapid development, if there are no macroeconomic conditions. That is why… our economy first fell by 4%, and this year quite a bit, and next year will begin the transition to growth”.
“Because, of course, you can pump money into the economy, you can increase the budget deficit to increase public debt but we understand what it’s consequences will result. Yes, the economy will have more money for development, ovicide inflation,” — said Medvedev.
“If we had gone the way of inflating the economy with money, we would have increased inflation, once again, depreciated the earnings of our people, pensions would be devalued and would have been impossible at all to plan a mortgage. That is, we would go back to the situation 90 years. Therefore, we have taken a very responsible decision. They were not always easy, but I believe that they have been verified”, — concluded the Prime Minister.
Dmitry Medvedev’s Interview with Russian TV channels online broadcast of RIA Novosti >>
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