Manturov said that the fall of the ruble against the dollar is "cool"
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Manturov said that the fall of the ruble against the dollar is "cool"

16 October , 10:22SocietyPhoto: iz.ru
Industry and Trade Minister Denis Manturov said that the consequences of the 20% fall in the ruble against the dollar are "great" for Russian companies. He believes that enterprises that do not depend on imports are now "in a favorable position".

The head of the department told about this in an interview with Bloomberg.

The publication notes that the Russian authorities took measures to reduce dependence on imports after the introduction of anti-Russian sanctions in 2014, and three years ago Manturov called the exchange rate of 62 rubles per dollar optimal for economic development. As of October 15, the dollar rose significantly and is trading at 78 rubles.

Manturov noted that the authorities are not discussing the extension of measures to support the economy, because the recovery after the spring crisis "was very rapid in many sectors," he hopes "that the peak is behind." Moreover, the minister called the position of companies that are not heavily dependent on imports “strong”. “Cool” that local companies will rely less on imports, the minister said.

Bloomberg, in turn, points out that the ruble has become one of the worst currencies in emerging markets due to the fall in oil prices and fears of new sanctions.

Meanwhile, ordinary Russians will hardly agree with the optimistic attitude of the official who declared the highest income (586 million rubles in 2019). The Central Bank urges citizens to prepare for a new rise in prices due to the "steep" falling ruble. At the same time, analysts do not exclude that real inflation may exceed the projected upper threshold only if the dollar rate rises above 83-85 rubles, Murashov is sure.

The head of the department told about this in an interview with Bloomberg.

The publication notes that the Russian authorities took measures to reduce dependence on imports after the introduction of anti-Russian sanctions in 2014, and three years ago Manturov called the exchange rate of 62 rubles per dollar optimal for economic development. As of October 15, the dollar rose significantly and is trading at 78 rubles.

Manturov noted that the authorities are not discussing the extension of measures to support the economy, because the recovery after the spring crisis "was very rapid in many sectors," he hopes "that the peak is behind." Moreover, the minister called the position of companies that are not heavily dependent on imports “strong”. “Cool” that local companies will rely less on imports, the minister said.

Bloomberg, in turn, points out that the ruble has become one of the worst currencies in emerging markets due to the fall in oil prices and fears of new sanctions.

Meanwhile, ordinary Russians will hardly agree with the optimistic attitude of the official who declared the highest income (586 million rubles in 2019). The Central Bank urges citizens to prepare for a new rise in prices due to the "steep" falling ruble. At the same time, analysts do not exclude that real inflation may exceed the forecasted upper threshold only if the dollar rate rises above 83-85 rubles.

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