Section 2. Monetary and budgetary sector

In 2013 inflation exceeded the target range (5-6%) established for 2013 in accordance with the Guidelines for the Monetary Policy of the Bank of Russia for 2013-2015, having reached 6.5%. On average, between January and December 2013 the M2 money supply had grown by 15.3% and as of 1 January 2014 was Rb 31,404.7bn. The international reserves reduced by 5% to $509.6bn during the year.