“We think that there is all the reason to believe that the planned inflation rate for this year of 12.2 percent will be even lower. We think there’s the possibility to provide between 11 and 12 percent for this year,” Siluanov said during a speech at the Week of Business conference in Moscow.
He added that Russia’s inflation rate may drop further next year.
“In 2016, we hope that the inflation rates may be at around 6-7 percent,” he said.
The Russian economy has passed its lowest point at the end of 2014 and is now stabilizing, Anton Siluanov said on Thursday.
"The lowest point has been passed, and now we see certain stabilization," Siluanov said at the Russian Union of Industrialists and Entrepreneurs’ Congress on Thursday.
According to the Minister, the situation in the financial sector also stabilized since debt instruments yield’s grew and the financial market has shown positive dynamics.
Siluanov stressed that the Russian ruble had become a stable currency since the start of 2015.
In January, the Russian Central Bank forecast inflation in the country to rise in the first months of 2015, as the ruble's depreciation would continue affecting prices of goods and services.
After this, the economy was predicted to gradually adjust and inflation to fall below 10 percent in early 2016.
