A tax hike was chosen in lieu of government borrowing to ease monetary policy, Anton Siluanov has said Russia will raise value added tax (VAT) by 2% to lower the budget deficit and curb inflation, Finance Minister Anton Siluanov said in an interview with TASS published on Monday. Earlier in the day, the Finance Ministry submitted a draft budget for 2026-2028 to the Russian parliament. “A balanced budget will be an important factor in economic growth, as it is the basis for slowing inflation,

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