Support The Moscow Times!

Dubinin: Slump to Pass

Russia's economic slump will give way to growth by late 1994 or early 1995, acting Finance Minister Sergei Dubinin said Tuesday.


Interfax quoted Dubinin as saying that the government's draft budget, yet to be approved by parliament, would hold monthly inflation down to 5-7 percent by the end of the year.


Dubinin said that the budget deficit would not exceed 10 percent of gross domestic product, and would be financed half by Central Bank emissions and half by government bonds and foreign loans, according to Interfax.


He also said that Russia was committed to continuing talks on restructuring its external debt.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more