we stand, everything, so to speak, all these sanctions on ourselves, we feel this global one at our fingertips, too, how it affects, but our task as financiers is to make it minimal and to quickly overcome all these restrictions. i would like to focus on a few components, probably, in fact, three components of financial sustainability, which allows us to pay less attention to all of them. uh, challenges and limitations. the first is the functioning institutions responsible for macroeconomic policy. you know it's not just words. that says macroeconomic stability, what is it? the devil knows, in fact, everything is, uh, enough. eh, specifically specific e positions. the first is the budget and, uh, the budget should not generate, uh, instability in the financial system. and if we look at the previous all e. unstable

temporary sections, then this is an unbalanced budget policy, large deficits, loans , the inability to pay debts or fulfill their obligations. all this leads to financial instability to financial crisis, so the budget fiscal rules, floating rate targeted inflation. all this allows us, uh, and uh, the government and the central bank to keep this situation, the second is that it is developed. uh, the internal financial infrastructure that has been created by the independent payment system a little later i will talk about this and disconnect us from the cards. e mastercard visa cuts back from e, swift's payment messaging systems, but we're practically not here, we haven't felt it. yes our company, a certain one , faced limitations, but made its own

uh, swift's own analogy we have our own central bank financial messaging system. spfs. e mastercard visa is the russian world and the payment system works and all these visas are still serviced in the old way. we didn't feel anything. this was all done beforehand. ah, the central bank. and uh, the financial bloc of the government. a lot of work has been done. this is also one of the elements of financial sovereignty, and the third position is technological sovereignty. yeah you know in the past we don't always u have to know attention was paid to certain key sectors of the economy, without which today's existence. uh, an independent state is impossible. children are the same radio electronics, chip processors. for the last decades after the soviet union

, we can say that we have practically developed this direction, because we expected that the global economy would develop and further we will buy it and buy it cheaper than we will produce it with our own forces. well, that doesn't work, unfortunately it doesn't work that way. and us today we have to catch up with what has been missed in recent years, and just this third position is technological sovereignty, namely microelectronics, our own aircraft industry , our own production of machine tools and equipment. yes, actually the same car structure car structure that we previously purchased from abroad. today on this business flour. i would like to stop. on each of this position a little more detail. well, we have time and tell a few words. eh, about here, for each of these three components the first is the budgetary policy.

this is budget sustainability budget sustainability. you know, like uh, not just here in the current environment, when it would seem. uh, here, uh, we now have one coronavirus, now there are restrictions associated with the conduct of our special war operation. our government works as a team that only responds to new challenges and it is very difficult to keep the budget under these conditions. they say, well, let's spend more. we need to help this. help here, you need somewhere, maybe, and, uh, more money to print all this, all this, can lead to imbalances and a financial crisis with financial consequences, so you know, the budgetary one is the quintessence of our entire financial and economic policy. and here is the question of balancing the question of what i need to finance everything i need on the one

hand, and on the other hand not to give. uh, do not allow the instability of the budgetary structure to form. here is the main thing that the ministry of finance is engaged in, what the ministry of finance is concerned with, that in order to ensure everything in the first place, it is conceived all these, the obligations of which the state has accepted a first of all, these are wages , pensions through social obligations, without this, nowhere and, uh, we did not notice anything on the contrary in the past year and pensions. the increased cost of living was the cost of living helped families with children. we have introduced a special allowance, that is, despite all the restrictions, despite all the contractions, the savings that are taking place, nevertheless, we are pointwise directing funds to the most important industries and segments, allowing them to develop. i will repeat this again. this social politics. it is the

technological independence policy that began to direct resources to sectors that were not developing. uh, and, of course, this infrastructural development. here , emphasis was placed on these areas, and they gave their result. and this was one of the uh important elements of the fact that we felt to a minimum degree all those restrictions of the last year that we all uh faced, i say again, thanks to a balanced budget policy. the chamber was formed on one side. we in advance, another balance of stability. we also have a national welfare fund. we started using it, many then said that you save there. where are you saving. why are you doing this? that's why today they use this resource, which would be obtained from a favorable external conjuncture of gas incomes of high mines, which means that we are using it now in order to modernize, first

of all, the infrastructure, to modernize , first of all, high-tech sectors of the economy. this is absolutely the right decision. so the second topic is, uh, domestic financial provision. e, means uninterrupted security calculations. uh, ensure the development of the domestic financial structure. i have already spoken about this we have created in the central bank. first of all. eh, i did a lot. uh, so to speak , she spent her energy on making her own system for transmitting financial messages, we talked about this. uh, swift's place has its own transmission of financial messages, because there is a payment, you also need to understand what the money came from. yes, other countries banks categorically. uh hinder our spread of this system to other countries, but grown countries. they work also within the russian federation, the system of fast payments

has also developed rapidly. and at the beginning it turned out its development last year. we have seen that payment transactions for goods and services through this system have increased 30 times. e for last year. that is, it is said that we have replaced foreign services with foreign ones. hmm, and foreign settlement systems, the national payment system cards, too, talked about the fact that the visa for the world and a few. the figure means to me the number of operations. uh, in a year it has almost doubled in terms of world maps in terms of world maps, and the number and uh of releases of this map has increased significantly, which indicates that it has become in demand and it is obvious that this will continue to be the case. we switched to using the national currency. the task was also set in the calculation, but you know, not shaky. not valka somehow, because everyone is used to

dollars to euros we sell our energy resources for with e free convertible currency, so to speak the registered currency, which it has shown in practice. today, it is not a reserve currency, because it is a reserve currency. so countries should be very balanced about who is the issuer. this is a currency balanced policy. and we are at twenty. by the way, the russian side has repeatedly stated that you are imitating countries. uh, so dollar euro pound. my genes take into account gold and foreign exchange reserves. provide responsible policies. a no, none. there, 60% of the debt to gdp is not respected. they themselves have established for themselves all for all countries. yes, because the practice was limited. do not comply with self-administered. uh, that means a limitation on payment calculations. the wto has already been forgotten. well, and so on. that is , you understand, this is such a two-faced

position. will as radicalized, but it's not for us. this is for other countries it does not work in the global world, so the use of the national currency. present tense. this is our priority. since the president correctly said that it did not go far from us. uh, that's because dollar settlements have become dangerous. we can freeze the payment. can the payment go through, so the transition. uh, the use of the ruble to use the currencies of friendly countries do not use digital currencies. here is our present and here is our future for financial settlements, by the way, speaking hmm by the way, speaking we see that other countries. uh, more and more use our experience because they don't like it. eh, tem. uh, so who is uh imitating the so-called reserve currency

it can be very easy and today you are good, and tomorrow he imposed sanctions on you and your assets are frozen, so the transition to the calculation of your own currency. uh, solves this problem and in fact minimizes all these risks that you may face. we are now building direct correspondent relations between banks of different countries, between central banks of different countries, so that the financial flows continued neither too simply nor simply, because many countries are afraid of secondary sanctions and do not always go. eh, so immediately tell us to meet, but, nevertheless. uh, when it comes to business calculations. uh, it means that there is always a solution for the goods, services that russia exports and that russia buys, despite all the difficulties. e of today's situation further, we are launching.

uh, alternative payment systems, including, uh, what i mean. these are settlements based on modern technologies, a very good thing. we are talking about the market for digital financial assets for international settlements and utilitarian digital rights. so called we are talking about the use of an alternative system of international settlements based. blockchain technologies that make it possible. e. to form according to the calculation according to e, predetermined rules for such calculations and meeting the needs of each of the parties, we are talking about e using new types. uh, new species. uh, sources of attracting investments, the so-called stablecoins, which are issued under specific contracts, backed by corresponding commodity products, as

a rule, these are gold backed, smart contracts that allow you to clearly trace. e, the direction e of certain funds that were received within the framework of these digital relationships and , accordingly, e, reduce costs and increase the reliability of using this kind of fundraising tool. we have decided to use mining activities. that is, we, uh, can allowed. the state has adopted the holy law, which allows. uh means to use uh, mining uh to uh use digital digital calculations. well what's important we now uh, we are developing our digital ruble central bank. this year, e-e has already launched an experiment, and by the end of the year, after the adoption

of the relevant legislation , the digital ruble will be put into circulation. as a matter of fact. this is the third element of the calculation - these are cash rubles, non-cash and digital. what is the importance of the digital ruble, in addition to the fact that it is an absolutely reliable tool, if for a non-cash ruble. e, means, if the cases of financial institutions are financial e, then the institution represented by a commercial bank. maybe the banks are spinning, there are some delays and so further digital ruble. absolutely 100% reliable tool, absolutely transparent and, uh, for the digital ruble. you can trace the transaction , everything, everything, you can see where they went, the money, this money will not go to the left, already. here, if anything, the third important thing is digital e, digital currencies can be used as cross-border payments. yes, now it is at the very first stage. tell the discussion of this issue, but use

digital rubles, use digital yuan , digital e, other currencies are the future, because it is, uh, a settlement system that is devoid of any restrictions, two states agree to settle accounts and no other side can stick their nose in there and get in there and freeze these, uh, calculations. this is a very promising modern form of calculation. further our task from the point of view of financial security of financial reliable stability is to create a system of long-term savings. you are well aware of this, and we recently, uh, discussed the concept of the law now, this law has passed all the procedures of the government today and in the near future will be submitted to the parliament for discussion, what will this give us the opportunity to securely store our savings, someone saves money under the pillow, someone in the bank , someone invests directly in

the financial market, but today the state provides a reliable tool that will be regulated by law on the investment of their own funds. e, in. uh, financial instruments and the state will control. e, the use of these resources on the one hand, and on the other hand , will provide appropriate and guarantees. provides appropriate tax incentives. uh, tax deductions and benefits on such instruments and you can earn good money. better at least more than, uh, on deposits in an ordinary commercial bank. if i give a few figures, well, suppose. uh, if we open a deposit today in some commercial bank. well, you get there, i'm six, well, 7% maximum, probably, yes, then today, if we invest your savings in the state

securities of the state paper, you can get 10 percent or more. here, yes. this we need to create a more simple infrastructure so that we can be there through a personal committee. so public services, it means quickly uh, open a financial account quickly buy paper, when you need to sell and so on, this is what we are all doing now, but the question of the legislative decision is the legislative decision in terms of the long-term savings system. this is a good thing in order to be able to save up for, uh, some important global tasks such as life tasks. i don’t know buying an apartment on e, opened the account at the birth of a child on his wedding, after all, and so on, today it is not, and now the state guarantees you, uh, a certain level of a set of incentives and uh guarantees the system uh of such savings

further. we are now a lot of attention. uh, highlight financial literacy. uh, financial literacy is also the culture of today's man. eh, you need to know. how to spend where to save if the course here is the most elementary course. uh, the ruble weakened a little, everyone ran to sell, uh, sell rubles, buy currency, why is this not done at such moments, so questions, uh financial management issues of financial literacy. today, for all of us, it is as an element of our culture, we begin to do this already from the school bench. that's right, absolutely further a few words about technological sovereignty. eh, as a matter of fact. uh, we have already said that the country should provide itself with the most critical technologies. we can't all do it and don't, well, the most critical technology. it's exactly right. we need to talk about what

we suppose. uh, aircraft superjet our aircraft, or the ms-21, is a new aircraft, which is now at the last stage, in fact, of development. we are constantly given. eh, footboards. if you remember, uh superjet we used engines, which uh, which had a lot of foreign parts parts components. frozen have to make their own ms-21 engine. we have been making our own composite wing no further. we make the appropriate composites with - we made our own composite, of course, uh, it delays the creation of our own. actually, uh production. but nonetheless. we're moving towards it and we're at it. hmm. we'll do it. look, china has also gone these ways and china has created

its own production system. including semiconductors, all of their microchips made uh, a ruler. uh, mission-critical own. eh, product products. we are going the same way. uh, uh, this way, maybe with someone. eh, with some time lag. here but what we need is important to us, of course, here's to create a business. uh, now uh, this is not at the expense of the state. everything is done by the state investing big money, but here it is important to reorient business as well. we provide appropriate preferential taxation regimes subsidized by interest rates, we guarantee, uh, the purchase of products for state needs , the so-called offset contracts. all this is done in order to create the appropriate conditions for business and hmm to stimulate. uh hmm to develop technology independent products. that is, which is also what we are talking about, this is once again, i say electronics aviation is shipbuilding and

other types, so to speak, of technological spheres, dear friends. really. today we are in this. in the first acute phase of the process of changes in the world economic order. today we see. uh, how these countries are trying to gain a foothold, despite the fact that countries with maturing economies are crowding countries. this is the economy and therefore today understanding these are the reasons for the essence, all these changes in world changes that are taking place, gives us the opportunity to think not only in the moment. we need to think ahead, how it will develop further world e and political system. what should be done today in particular? uh case, what to focus on? and what should the state's financial resources be directed to in the first place? we

understand this very well and we do it. uh, we are doing everything necessary in this regard, i am sure colleagues that we will meet with you in uh. in the same format, in a year we will see. the steps forward that have been taken by the russian federation to ensure its technological financial sovereignty and to ensure those necessary measures that are extremely urgent for us today. it is extremely important that we are confident that we will continue to move forward, regardless of what the weather will be like in the global financial economic political markets. thank you for your attention. thank you doctor germanovich.

minister of finance, anton siluanov delivered a lecture at the knowledge society marathon on the topic of the country's financial independence guarantee of protection from sanctions the key rate of the central bank of 7.5% does not prevent companies from taking loans russian business is actively attracting money to participate in large projects about this in an interview with our the channel was told by the head of vtb bank andrey kostin. in addition, according to him, in conditions of weak inflation, the rate can be further reduced to 5.5%. today we are participating in a business series of very large investment projects, including in mining and processing, so the demand for loans remains stable enough and the rate is repeated. eh , even that's 7.5% plus some kind of margin from the bank. today, in general, she does not scare. although it is clear that the lower the rate, the more economic activity can be, and so we will look further, but it depends, uh, to

a large extent on inflation, and inflation can depend on the money supply, so we need to be careful here. watch the full version of the interview with andrei kostin on our channel after 1 pm moscow time on the new guest of the russian football program was the head coach of the russian women's national football team yuri krasnozhan, with whom my colleague ilya kazakov spoke in the full version of this interview. you can also watch on our channel, but after midnight. to ideas uh, yevgeny worked, he needs a certain level of players in order for the players to be united and able to show their best qualities, a coaching approach is needed. and here it is necessary to consider them together. and what came together. yes, huge, it seems to solve the problem. uh, continued participation in the first line would just stand in such a way that they

were close. well, what they did. now it's worth a lot, it will be a shame that this team may not be in the superfinal. wars end so that the world is lasting we need people with a strong character who are ready not only to stand up for their homeland, but also to crawl and jump and run. and most importantly , win for her. there is such work to be a protector.

and when you become a professional. it becomes a matter of your life, a military matter, serve according to the call of the heart, join your own.

in the chernivtsi region of ukraine burned the temple of the canonical orthodox church is already known. it was a deliberate arson, what kind of imaginary enemy from the west threatens poland to counteract, which warsaw was preparing during the exercises commentary of the head svr, what is the situation in the dpr , the settlements of the republic again, were subjected to massive shelling from the armed forces of ukraine war and

what it led to in a global sense, in the second half of the hour, watch an interview with the head of vtb bank andriy of the ukrainian crisis is not only preparing for the annexation of the western regions of ukraine, but also begins to fear the loss of their territories, this is stated in a statement published today by the head of the russian foreign intelligence service , naryshkin, according to the svr, the polish military conducted exercises as a mock enemy from the west , according to information received by the svr for the polish leadership in the conditions of the ukrainian crisis the topic of geopolitical redistribution, including a revision borders of states, along with aggressive aspirations in relation to the western regions of ukraine, in warsaw , anti-