INSUBCONTINENT EXCLUSIVE:
Russia's federal budget for 2025-2027 submitted by the government to the State Duma could contribute to higher-than-expected inflation,
Russian Central Bank warning of fiscal risks to inflation.In addition, the planned indexation of housing and utility tariffs in 2025 by 12%
We are also concerned that this makes it doubtful that the practice of indexing tariffs by an amount close to the inflation target (4%) will
(current forecast: 4.7%); we still expect the key interest rate to rise by 100 basis points to 20% in October and note the risk of a further
