Russian President Vladimir Putin announced that the digital ruble will be used in the federal budget system starting next year, stressing that the level of digitization in financial services in Russia is higher than the global average.
This came during an international investment conference organized by the country's second-largest bank "VTB" on Wednesday.
The Russian president pointed to the recovery of the national economy despite challenges, recording the lowest unemployment rate in Russia's history.
Criticizing the global financial system, he stated that the dollar is used to enable the United States to exploit the economies of other countries, and described those imposing sanctions on Russia's partners as arrogant.
He stressed the importance of coordinating efforts between the government and the central bank to combat high inflation. He called for increasing the supply of goods and services in line with demand to limit price increases. He explained that reducing inflation requires joint measures and coordinated work, considering this a direct call to action.
On her part, the governor of the Central Bank said that the current annual inflation rate, which stands at around 9%, has not yet begun to decline, but it is expected to gradually decline until it reaches the target rate of 4% by 2026.
Regarding Western companies, the Russian president confirmed that the authorities have not forced any company to leave the country, noting that most American and European companies continue to operate in the Russian market.
He explained that some companies preferred to stay or transfer their management to other parties, while a limited percentage left the market permanently.
Follow the latest news on Google News
