World meat industry news

Inflation in the Russian Federation continues to slow down, the indicator for the week from April 9 to 15 will be lower than the last reporting week. This was stated by the head of the Ministry of Economic Development Maxim Reshetnikov at a meeting of the presidium of the government commission on improving the stability of the Russian economy in the face of sanctions.

"Inflation is slowing down. Over the week from April 2 to April 8, prices rose by 0.66%. Let me remind you that in early March, prices increased at a rate of more than 2% per week. Rosstat will provide data for the past week tomorrow, but now, according to CCP (control cash registers - TASS note), we can judge that there will be a significant slowdown in inflation," Reshetnikov said.

Reshetnikov said that the Russian economy has withstood the first blow from the sanctions imposed against it.

"The economy [of the Russian Federation] withstood the first blow of sanctions. We received the necessary time to rebuild production chains, logistics and structural changes in the economy. This is largely the result of the measures that were promptly taken and implemented on behalf of the President of the Russian Federation by the government and the Bank of Russia" , - he said.

In particular, according to the minister, the Russian consumer market has gone rush demand, and the data of cash registers show indicators below the pre-crisis level. "Moreover, our purchase of durable goods - flour, sugar, vegetable oil, salt - over the past week was a quarter lower than in the pre-crisis week. All this led to the restoration of stocks in retail chains, they have recovered to mid-range levels. February," Reshetnikov said.

He added that the situation in the financial sector of the Russian Federation also remains stable, and the head of the Ministry of Economic Development called the current ruble exchange rate reasonable in the current conditions. "OFZ yields (federal loan bonds - TASS note) are declining, the situation in the banking sector is also stable, although we have not yet been able to fully overcome the cooling of lending to the economy," the minister said.

Reshetnikov said that the total portfolio of all concessional lending programs for the corporate sector will amount to over 3 trillion rubles.

"In total, it is planned to implement more than 20 different programs of concessional lending. The total portfolio for the corporate sector will amount to more than 3 trillion rubles," the minister said.