Sergei Sinelnikov-Murylev took part in the Sochi-2015 International Investment Forum

On 3 October 2015, Sergei Sinelnikov-Murylev, Director of Research of the Gaidar Institute was a moderator of the brainstorming session: “The Inflation-2017. The Target Level and Instruments of Achievement” which was held within the frameworks of the Sochi International Investment Forum on 1-4 October 2015.

At the meeting organized under the auspices of the Gaidar Institute, it was stated that prevalence of a high rate of inflation with a high key rate had negative consequences both to the dynamics of households’ real income and savings and economic growth in general. Securing of the rate of inflation at the level of 4% in 2017 was declared as the prime goal of the Central Bank of Russia and documented in the forecast of the Ministry of Economic Development of the Russian Federation. At the same time, in the expert community there are different points of view as regards feasibility of achievement of the target rate of inflation within the period in question.
Participant in the debates were asked to answer the following questions: is a new surge in the rate of inflation possible in case of reduction of the key rate; did the efforts to overcome pro-inflation expectations which were observed in Russia late in 2014 and H1 2015 succeed; was such a low inflation rate which was formed in conditions of the existing pattern of the Russian economy optimal; can administrative control over prices be efficient in terms of achievement of the target rate of inflation.
Participants in the debates were Natalia Akindinova, Director of the Center for Development of the NRU Higher School of Economics; Yevgeny Gavrilenkov, Managing Director, Chief Economist of the Sberbank CIB; Stanislav Naumov, Director for Work with State Authorities of the Х5 Retail Group; Maxim Oreshkin, Deputy Minister of Finance of the Russian Federation; Alexei Ulyukayev, Minister of Economic Development of the Russian Federation; Kseniya Yudayeva, First Deputy Chairman of the Central Bank of the Russian Federation and other.