Report: Russian econ minister sees potential for ruble firming

ROME, Mar 4 (PRIME) -- The Russian ruble has potential for further firming, Economic Development Minister Alexei Ulyukayev told Askanews newswire late Tuesday.

“The ruble is growing and there is room for its further strengthening,” Ulyukayev said.

The Russian economy will resume growth in 2016, and some recovery trends will become noticeable in late 2015, Ulyukayev said.

“I have a feeling that we will return to growth at the beginning of 2016, and there may be an about 2-2.5% increase. I think that it is possible that we return to a positive trend in the fourth quarter of 2015, while in general, the dynamics for the year will be negative,” he said.

Ulyukayev said that the 2015 forecast for the Russian economy that assumes oil at U.S. $50 per barrel on average, the ruble at 60 per U.S. dollar, economic contraction of 3%, and investment decrease by 13%, is overly pessimistic.

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