Minister: Stronger ruble to make Russian industry less competitive

MOSCOW, Jan 13 (PRIME) -- Further strengthening of the ruble may make Russian industry less competitive, Minister of Industry and Trade Denis Manturov said at the Gaidar Forum Friday.

“I can see danger in the ruble strengthening trend,” he said, “The ruble may jump to 55 rubles against the dollar by the end of this quarter or half-year, analysts project… It will mean we will lose our competitive advantage.”

Deputy Minister of Industry and Trade Gleb Nikitin earlier said that the Russian economy has got used to the level of 65 rubles against the dollar and a stronger ruble may pose a problem for industrial development.

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