Siluanov voiced the positive consequences of the VAT increase from 20% to 22%

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The increase in value added tax (VAT) from 20% to 22% makes it possible to avoid the negative effects of inflationary financing of the budget deficit. Such positive consequences were voiced by the head of the Ministry of Finance of the Russian Federation Anton Siluanov in an interview with TASS.

According to him, this means "a lower trajectory of interest rates and a higher trajectory of economic growth." The choice in favor of increasing the standard VAT rate is due to the least negative impact on the economy compared to alternative scenarios.

- From the point of view of changes in consumer price dynamics, this measure will be moderate and limited, - stated the minister.