Posted 28 февраля 2022,, 13:31

Published 28 февраля 2022,, 13:31

Modified 24 декабря 2022,, 22:38

Updated 24 декабря 2022,, 22:38

Ex-Deputy Minister of Economy of Russia: the dollar may rise in price to 320 rubles

Ex-Deputy Minister of Economy of Russia: the dollar may rise in price to 320 rubles

28 февраля 2022, 13:31
Фото: 1MI
Former Deputy Minister of Economy of Russia Ivan Starikov, in an interview with Rise, did not rule out a rise in the price of the dollar to 320 rubles this year, and also pointed out the weaknesses of the Russian economy.

Starikov compared the situation with the 1997 and 1998 years and said that then the dollar soared from 6 rubles to 24 rubles.

“If we follow this path, then let’s calculate: if we started with 80 rubles before the start of the military operation, under the same scenario of 1998, we will get 320 rubles per dollar by the middle of the year”, - the expert believes.

He also noted that raising the key rate of the Central Bank to 20% will allow citizens to keep at least part of their savings. On the other hand, the expert sees a problem in the construction sector, arguing that the existence of mortgages is called into question. According to Starikov, many people who dreamed of improving their living conditions will have to abandon their plans - construction companies will not have guarantees that projects will pay off.

He also noted that the share of Russian oil on a global scale is less than 5%, and the main threat to Russia is not a drop in prices, but an embargo. With gas, the situation is better - Western countries cannot yet abandon it, but within two or three years Europe can switch to spot liquefied gas.

“These are the two most vulnerable Achilles' heels of our economy and its total dependence on the export of hydrocarbons. That's when something will happen. General poverty and, as you yourself understand, the fall of people's love is landslide, sharp and fatal”, - says Starikov.

Earlier today it became known that the dollar and the euro soared to historic highs against the backdrop of economic sanctions. So, at the opening of trading on the Moscow Exchange, the dollar cost 100 rubles, and the euro - 113 rubles.