Econ ministry keeps 65.1 as 2019 ruble rate forecast, risks loom

ST. PETERSBURG, Jun 7 (PRIME) -- The Economic Development Ministry has maintained its forecast of the ruble’s average annual rate at 65.1 rubles per U.S. dollar in 2019 although external factors put this forecast at risk, Minister Maxim Oreshkin told reporters on Friday on the sidelines of the St. Petersburg International Economic Forum.

“If we look at the scenario envisaging aggravation of trade wars and additional restrictions, there are obvious risks. In general, we are currently in line with the forecast on the ruble rate and oil prices. We will update the forecast in August. There is uncertainty now over external factors, so we will track that closely,” he said.

“I mean the risks that are connected to external factors. Firstly, we see a rapid worsening of the external situation, we see slowdowns in all leading indicators of the largest economies.”

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