Overview

• Speaking at the Valdai Discussion Club on Oct. 2, Vladimir Putin said a higher VAT would raise the tax burden and weigh on economic growth.
• Putin said such a step could help maintain key economic parameters and build a buffer for the future.
• He added that a revision could help the Central Bank find a better balance on the key rate and guide government budget spending.
• RIA Novosti reported the remarks as an official signal of consideration rather than a finalized policy.
• The comments underscore that any change would require government action and would interact with the Central Bank’s macroeconomic decisions.