01:01 GMT +317 February 2019
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    Russia's Central Bank drafting new 2006 scenario

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    MOSCOW, October 11 (RIA Novosti) - Russia's Central Bank is developing an additional scenario for Russia's social and economic development based on a Urals Med price of $60 per barrel, since previous scenarios lagged behind the situation on the world energy market, a senior bank official said Tuesday.

    Alexei Ulyukayev, deputy chairman of the Central Bank, told a session of the State Duma's (Russia's lower house of parliament) committee on credit organizations and financial markets that the bank would submit its adjusted draft proposals on the federal monetary policy for 2006 to the State Duma in late November for review by parliamentarians December 2.

    Addressing experts' doubts on forecasted inflation figures for 2006, which were included in the document, Ulyukayev said he believed an inflation benchmark of 8.5% was realistic and achievable.

    Earlier this year the Central Bank outlined three scenarios for Russia's social and economic development based on Urals Med prices of $28, $40, and $50 per barrel.