The Ministry for Economic Development predicts the Russian national currency will strengthen from 60 rubles per dollar in 2015 to 53 rubles per dollar in 2018. According to the Ministry, the average rate this year of 60 rubles is correlated with the price of Urals oil at $50 a barrel.
the Russian national currency will strengthen from 60 rubles per dollar in 2015 to 53 rubles per dollar in 2018. According to the Ministry, the average rate this year of 60 rubles is correlated with the price of Urals oil at $50 a barrel.The Ministry also expects a slowdown in inflation in 2016 to 6.5-7.5% due to lower consumer demand. The Ministry for Economic Development predicts that the growth in consumer prices will slow down to 5% by 2018 due to the strengthening of the ruble. The reduction of inflation and the transition of the economy to growth will allow real incomes to increase by 1.1% in 2016 and 2.6 - 2.8% in 2017-2018.A leading researcher at the Institute of Applied Economic Research of the Russian Presidential Academy of National Economics and Public Administration, Alexander Abramov, told Vestnik Kavkaza that the Ministry for Economic Development is building long-term forecasts based on its model of the Russian economic system. "The fact that the Ministry predicts the strengthening of the ruble till the end of the year is quite a realistic point of view, as Russia will expect the payment of external debt at the end of the year, and an increase in interest rates in the United States. A steady strengthening of the ruble in the next three years seems to me not so likely because it is not clear whether the Ministry for Economic Development has the scenario for economic growth," he said. According to the expert, the ruble will fluctuate within the range of 55 to 60 rubles per dollar till the end of the year.The deputy chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov, in his turn, explained that the document published by the Ministry for Economic Development is the benchmark for the calculation of the budget for the following years. "I emphasize that the forecast itself is quite normal, and the ruble exchange rate will fluctuate around the limits stated by the Ministry for Economic Development," Anatoly Aksakov concluded.
The Ministry also expects a slowdown in inflation in 2016 to 6.5-7.5% due to lower consumer demand. The Ministry for Economic Development predicts that the growth in consumer prices will slow down to 5% by 2018 due to the strengthening of the ruble. The reduction of inflation and the transition of the economy to growth will allow real incomes to increase by 1.1% in 2016 and 2.6 - 2.8% in 2017-2018.
A leading researcher at the Institute of Applied Economic Research of the Russian Presidential Academy of National Economics and Public Administration, Alexander Abramov, told Vestnik Kavkaza that the Ministry for Economic Development is building long-term forecasts based on its model of the Russian economic system.
"The fact that the Ministry predicts the strengthening of the ruble till the end of the year is quite a realistic point of view, as Russia will expect the payment of external debt at the end of the year, and an increase in interest rates in the United States. A steady strengthening of the ruble in the next three years seems to me not so likely because it is not clear whether the Ministry for Economic Development has the scenario for economic growth," he said. According to the expert, the ruble will fluctuate within the range of 55 to 60 rubles per dollar till the end of the year.
The deputy chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov, in his turn, explained that the document published by the Ministry for Economic Development is the benchmark for the calculation of the budget for the following years. "I emphasize that the forecast itself is quite normal, and the ruble exchange rate will fluctuate around the limits stated by the Ministry for Economic Development," Anatoly Aksakov concluded.
