Results of the V Moscow Financial Forum

Results of the V Moscow Financial Forum
The anniversary V Moscow Financial Forum was held on September 8 at Manezh Central Exhibition Hall.

More than 1140 people attended the Forum in 2021, with more than 100 speakers participating in 15 business program sessions.

The main topics of the fifth anniversary Forum were the impact of the pandemic on the Russian and global economies, budget and tax policy, government procurement, privatization plans, and government debt issues.
Mikhail Mishustin, Prime Minister of the Russian Federation, gave a speech at the main event of the Moscow Financial Forum - the plenary session ‘Russian economy and financial markets: sustainable development in a changing world’.

This session was also attended by Maxim Oreshkin, Assistant to the President of the Russian Federation, Anton Siluanov, Minister of Finance of the Russian Federation, Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, Sergey Sobyanin, Mayor of Moscow, and Alexey Kudrin, Chairman of the Accounts Chamber of the Russian Federation. Andrey Makarov, Chairman of the Budget and Taxes Committee of the State Duma of the Federal Assembly of the Russian Federation served as the moderator of the session.

In his speech, Mikhail Mishustin pointed out that last year Russia became ‘one of the leaders of the G20 in terms of growth in spending to support the economy and people, which helped to mitigate the impact of the pandemic’.

‘We want our citizens to fully enjoy the positive changes from economic growth, and we want the two factors - economic development and improving the well-being of citizens - to come together as quickly as possible,’ the Prime Minister emphasized.

Mikhail Mishustin also stressed the importance of improving the financial literacy of the population: ‘The steps of improving the financial literacy of people are also important. These educational, enlightening programs should significantly increase the sustainability of family budgets. They will provide knowledge of how and where it is better to invest available resources in order to maximize income, how to form your own financial, so to speak, safety cushion, to save money for some important purchase’.

The Minister of Finance Anton Siluanov also touched upon the topic of economic recovery. According to him, a number of factors demonstrate the recovery, including the growth of investment.  
‘Not only the rate of economic growth, but also the fact that unemployment is reaching pre-crisis parameters show it. We can see that investment is growing by 5% in real terms, if we do not take into account the oil and gas sector,’ Siluanov said.

At the press conference, which was yet another event of the Moscow Financial Forum, Anton Siluanov outlined the priorities in the allocation of state treasury funds: ‘We expect additional income of about 1.7 trillion rubles for this year. We believe that the overall budget balance will stay close to zero, because we plan to use all the extra revenues to support citizens, as well as a whole range of other measures to stimulate the economy. We plan to achieve a surplus of about 1% in 2022 and about 0.3% in 2023’. He also added that to date, the Ministry of Finance is quite satisfied with the domestic market and the department believes there is no additional need to enter the external markets.