OREANDA-NEWS  Too slow price growth has become one of the key problems in late 2022 - early 2023, the situation is increasingly threatening the economy, Maxim Reshetnikov, head of the Ministry of Economic Development, said at a meeting with President Vladimir Putin. Vedomosti writes about this with reference to sources close to the government and the presidential administration.

The ministry noted that low inflation is achieved not due to an increase in supply, but due to stagnation in demand. Since September last year, prices have increased by no more than three percent, but, according to the data of cash registers, sales continued to fall.

Therefore, the key task for the current year was called an increase in demand, the indicator of which is inflation. We are talking about reaching the target range set by the Central Bank, which is five to seven percent in 2023. The Ministry's concerns are shared by First Deputy Prime Minister Andrei Belousov and Presidential Aide Maxim Oreshkin.

At the same time, the interlocutor of the publication clarified, Belousov named other important tasks — the development of transport corridors, credit support for technological projects and high-tech companies, as well as exporters.

Finance Minister Anton Siluanov said that in the issue of budget investments, the authorities will focus on projects that banks are ready to lend. The head of the Central Bank, Elvira Nabiullina, reacted skeptically to the phrase that banks are doing well, but did not object that the decline in demand is a serious problem. At the same time, she recalled that it is necessary to invest money in projects after evaluating investments, and for this, the regulator is waiting for approval of the methodology for determining their priorities. After that, the Central Bank will be able to provide benefits to banks.