Speaking at the annual investment forum "Russia Calling!", Minister of Finance Anton Siluanov touched on a number of issues recently discussed at the G20 Finance Ministers and Central Bank Governors Meetings.
"At the G20 we discussed what is more important - budget consolidation, economic growth, or quantitative easing," Siluanov said. As a result of these discussions, he said, the finance officials acknowledged that there are different ways to achieve economic growth and affirmed the need to consolidate budgets and streamline expenditures, including in countries with high levels of national debt.
Siluanov emphasized that monetary policy should be pursued with utmost care to avoid rapid growth of inflation, interest rates and, hence, the cost of servicing the national debt.