the state has savings, which will restore the domestic economy. This was the Deputy President of the security Council, Dmitry Medvedev said in an interview to “Komsomolskaya Pravda”. According to him, all the initiatives of “United Russia” to support business and population, can be implemented at the expense of reserves and balanced policy.

Experts agree with the statement ex-a premiere. Russia has a financial safety cushion in the form of the national welfare Fund (NWF), which can implement all the proposals of the ruling party and to accelerate the process of recovery.

United Russia performs regularly with socially significant proposals for the country’s economic recovery after the pandemic. For example, at the initiative of United Russia adopted the law on “vacation credit” and the decision to increase the maximum threshold of the mortgage loan. June 1, 2020 it was decided to increase the minimum size of childcare allowance for the first child to 1,5 years. On the proposal of deputies from “United Russia”, a lump sum payment in the amount of 10 thousand rubles for each child will recover at the expense of debt available to parents.

In an interview, Dmitry Medvedev stressed that all the initiatives of “United Russia” in advance was discussed with President Putin and received a positive assessment of the President.

Deputy Chairman of the security Council stressed that the proposals to support those most affected during the period of the pandemic to actually implement because of the accumulated reserves and stable development of the economy, which was provided in previous years.

“In recent years we have learned to crises to answer, — said Medvedev. — I myself, and a working President and working Prime Minister, had to pass through several crises. And I think we came out of the crises with the least cost, which could be. We not only lost what I can get, but also increased the economic power of the country managed to preserve macroeconomic stability”.

He also stressed that if the country has accumulated reserves, if it were not such a balanced economic model would not have solved the issues with the ruble, now Russia would be in a very difficult position. “Today, we have a safety cushion. This allowed for trillions of rubles to create a program for the restoration of individual industries and the support of the population, solve social problems, to pay additional benefits,” — said Medvedev.

the Point of view of ex-Prime Minister is shared by many experts. Political analyst Yevgeny Minchenko believes that the overall economic system became more balanced. “The dependence on energy has recently significantly reducing��of ilas he says. — The government managed to create a financial safety cushion in the form of the national welfare Fund (NWF), as well as reserves of the Federal budget. This has largely contributed to the deal, OPEC+, which for a long time kept oil prices at a high level, which gave the opportunity to save for a “rainy day” about $100 billion.”

According to experts, the authorities also chose a flexible exchange rate policy that allows you to maintain the stability of the national currency, even with very severe shocks. Of course, the global economic crisis the fall of the ruble could not be avoided, but it was not as strong as many had expected. “The current stability of the economic system of the country is much higher than it was in the previous tests, for example, during the crisis of 2010”, — considers Minchenko.

Indeed, the NWF can be called a serious safety cushion for the country’s financial system, says a leading expert of Institute of modern development Nikita Maslennikov.

“this year, according to calculations of the Ministry of Finance from the Fund, will be spent around 300-350 billion rubles, — he said. The national welfare Fund remains a resource long-term. Now no one can say whether the country’s second and subsequent pandemic waves, understand the overall situation with the global economy. It is possible that the current global crisis the bottom has not broken.” However, according to experts, the Russian government takes into account all possible risks, therefore, consumes available resources very carefully. Well, the main key to success is that these reserves, accumulated in previous years, the government turned out to be.

Maslennikov explained that to create a safety cushion failed due to the cumulative actions in the area of macroeconomic policies that the authorities began to actively use in 2015. The reserve was formed due to the action of the fiscal rule through flexible exchange rate, inflation targeting and fiscal consolidation pursued in the past years and achieved a surplus.

This balanced policy has allowed Russia to keep the situation in a relatively stable framework in the pandemic crisis. Without reserves, our economy would fall significantly deeper. It is enough to compare the preliminary assessment by the leading economies of the world. In the United States in the second quarter is expected to decline about 20% in Europe on 14-16%. Meanwhile, in Russia the decline in the second quarter will be approximately at the level of 9-11%. To contain the fall was possible thanks to the financial safety net – the same one mentioned in his interview, Dmitry Medvedev and which he was directly involved, being at the head of the Cabinet of Ministers.