Finance minister sees Russian ruble rising again
MOSCOW, Aug 26 (PRIME) -- The Russian ruble may strengthen against the U.S. dollar and the euro like it happened at the beginning of the year, Finance Minister Anton Siluanov told at a President Vladimir Putin on Wednesday.
“A similar situation with weakening of the ruble already happened and happened at the beginning of the year. But oil prices increased, and this led to an increase of the ruble. We should not rule out the possibility of repetition of the situation,” Siluanov said.
But the oil price fall may be of a long-term character. “And we should prepare for this scenario and ensure financial and budgetary stability,” he said.
Russia’s budget will fulfill all its obligations this year, reserves should be used.
“But the reserves are not endless, and next year, for the next budget cycle, we should adopt measures to bringing our obligations in compliance with new macroeconomic conditions. The Russian Federation’s government is now preparing such suggestions,” he added.
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