Macroeconomic policy should be «boring», believes the Deputy head of the Ministry of Finance

© Photo : courtesy of the press service of the Ministry of Finance Ofvladimir Kolychev. Archive photoMacroeconomic policy should be «boring», believes the Deputy head of the Ministry of Finance© Photo : courtesy of the press service of the Ministry of Finance of the Russian Federation

Macroeconomic policy should be «boring», according to Deputy Finance Minister of Russia Vladimir Kolychev.

«What more to expect from macroeconomic policy? I am probably gonna disappoint everyone: it is not necessary to wait for anything — macroeconomic policies should be as boring,» said Kolychev, speaking at a conference of the rating Agency Fitch.

He explained that under the «boring» macroeconomic policy understands risks, higher investment and increase potential growth.

«Measures to make macroeconomic policy boring, according to our estimates, can add to the potential growth rate (the economy — ed.) is about 0.5%. Previously, we had growth in the range of 1.5%, now this figure is closer to 2%», — said Kolychev.

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