Skip to comments.Russia says better positioned than peers to deal with U.S. policy impact
Posted on 02/21/2014 12:03:30 PM PST by cunning_fish
MOSCOW (Reuters) - Russia may see a balanced budget this year, which puts the country in a better position than other emerging markets to fend off the impact of the U.S. decision to curb its monetary stimulus, Finance Minister Anton Siluanov said on Friday.
Speaking to investors in Hong Kong, Siluanov said that the ministry had penned in a budget deficit of 0.5 percent of gross domestic product this year, but that its conservative fiscal policy may lead to balanced books.
"I think that this year we may see a deficit-free budget, while at the same time we see rather stable deficits in other emerging markets," Siluanov said, according to a transcript of his speech.
Siluanov is en route to Sydney for the meeting of finance ministers and central bank governors from the Group of 20 developed and developing nations.
Discussion over U.S. monetary policy will dominate the talks, with emerging nations wanting the Federal Reserve to calibrate its winding down of stimulus so as to mitigate the impact on their economies.
Developed members say troubles in the emerging world are mostly homegrown and domestic interest rates have to be set with domestic recoveries in mind. .
Siluanov said a balanced budget puts Russia in a decent position to deal with global monetary policies changes.
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Russia has a balanced budget and we have an unbalanced POTUS....................
A balanced budget?! That’s not even possible! How could anybody live within their means!? They’re obviously lying.
Don’t worry Mr. Siluanov, the US cannot taper. Nor can it hold the line on QE. It’s printing as far as the eye can see.
I know, I know. National suicide IS hard to imagine...
No way! You can’t balance budgets! RACISTS!!!!
The Evil Empire now has a flat tax AND a balanced budget?
Maybe the wrong side won.