According to the 'What trends mean' survey by the Central Bank, the majority of Russian manufacturers have found a strong ruble useful for them.''
69% of respondents stick to this viewpoint, including 33% of exporters.
In their viewpoint, the weakening of the national currency won't lead to the attainment of new markets, or increase in exports to the existing markets. At the same time it is necessary to strengthen it for the modernization of production with the help of imported equipment, as well as reduction in the cost of production. In addition, some part of those who supported an expensive ruble explained it by the fact that they have debts in foreign currency.
Only 31% of companies supported the weakening of the ruble, including 22% of exporters.
7% admitted that fluctuations didn't influence them.
"It is important to note a high percentage of responses for the strengthening of the ruble in order to modernize production and reduce production costs, not only among the companies operating in the domestic market, but also those companies that supply products for export. However, none of the respondents said that they needed s weak ruble in order to start exporting products. It means that further depreciation of the ruble will create additional opportunities for access to foreign markets neither for the companies, nor for exporters,'' RBC cites the survey.
The survey was conducted on May 11-20th. It was attended by 263 industrial and 109 agricultural enterprises. 52% of them were exporters.
The head of the Department of stock markets and financial engineering of the Department of Finance and Banking (FFBD) at RANHiGS, Konstantin Korischenko, agreed with the main conclusions in an interview with a 'Vestnik Kavkaza' correspondent.
According to him, "a weak ruble is useful primarily for the budget, as the main revenues are received from exporting taxes. A weak ruble is profitable enough for the exporters."
"As for the enterprises that operate in the domestic market, a strong ruble is beneficial for them, as they want to buy equipment for the technical upgrade and take advantage of the accumulated funds in rubles that are in the accounts now, but not invested," the expert said.
Director of the Association 'Rosagromash' Eugeny Korchevoy admitted he was surprised by the results of the Central Bank's survey. "It is very interesting what industrialists were surveyed. I have a feeling that the Central Bank surveyed foreign manufacturers, not Russian. It is the right survey in this case," he said.
"If you survey Russian producers who have a deep localization, not collectors with foreign brands, but Russian manufacturers of high-grade, 100% will tell you that the weakening of the ruble is an absolutely positive factor. It is an absolutely necessary step that allows to increase production,'' he said.
