Page 8 - RusRPTOct21

the peak in 2012–2014 was shortened to about one tenth. Russia's current account will remain in substantial surplus over the forecast period.
In the area of public finances, there are no indications that Russia is compromising its plan to reduce the budget deficit so far (this was also in line after the recessions of 2009 and 2015). Risingudget revenues and aetter outlook for the now-expected oil price will reduce the deficit, making it possible to loosen the plan's tight expenditure estimates.
There are several significant forecast uncertainties. Unpredictable changes may occur due to the pandemic, global economic growth and oil prices. Inflationary pressures may arise in the global and Russian heterogeneous markets, the release of which would accelerate the gnawing of purchasing powery households as well as companies and the state.
More investment maye expected than expected if state project funding attracts companies so that the total investment of companies increases. The increase in government revenue leaves much room for increased budget expenditure. Some post-recession twists are still ahead and difficult to predict. Corona situations, the pace of openingorders and the return of foreign tourism may vary. The unwinding of household savings lead to surprising increases in consumption.
8 RUSSIA Country Report October 2021 www.intellinews.com