Igor Shuvalov said the government had planned to bring inflation down to 8.5% and then revised its forecast to 10%.
"Unfortunately, the monetary authorities cannot currently keep inflation within those parameters and corridors that were planned parameters," Shuvalov said.
He said it was necessary to prevent the ruble's excessive appreciation to ease pressure on industry.
Shuvalov said the government could hardly keep economic growth rates at 7-7.8% per annum as was the case in previous years and added that a forecast of 5.2-6% was realistic.
He added that the government wanted to go ahead with its ambitious plans of doubling the country's gross domestic product and maintaining economic growth at the level of at least 7%.
