Medvedev alarmed at the sharp appreciation of the ruble Medvedev worried sharp rise in the ruble
Russian Prime Minister Dmitry Medvedev said that he is concerned about the sharp appreciation of the ruble, as "excessive appreciation of the national currency - it's too bad," RIA Novosti reported."This weakens our ability to export, so it is always a choice between the internal situation and support exports," - said the head of the Russian government in an interview with Nation Media Group during a visit to Thailand.
Medvedev also acknowledged that the situation in the economy is not very easy, last year it was complicated for two reasons. "It's pretty serious, as they say - a dramatic drop in oil prices, on which our economy depends really," - said the Prime Minister. - "Well, and the second factor - is, frankly, unfriendly attitude of a number of countries that have imposed financial sanctions and a few others."At the same time, according to the head of the government, "nothing is too hard does not happen."During today's meeting with the business community in Bangkok, Thailand, Medvedev urged business to replace the Russian market products of countries that supported the anti-Russian sanctions soobschaetTASS. He noted that "the well-known reasons for this niche market there - especially in the food market, the market for agricultural products." "And the one who will be able to fill them, he, of course, receive an additional benefit," - said the head of the Russian government during a meeting with representatives of Russian and Thai business community.Earlier, during the parliamentary hour in the State Duma of the Russian Federation Minister of Economic Development Alexei Ulyukayev suggested that the weakening of the ruble will have a positive effect on the development of export sectors of the Russian economy, which is not infinite and will last only until the 2017-2018 period."That win on cost, we got through the combination of circumstances associated with the change in credit conditions for our borrowers in foreign markets, and the devaluation of the ruble - this gain is not infinite. We have two or three years to launch a real mechanism of export support" - he said.The official exchange rate of the dollar fell today by 1.3 ruble, with 9 April 2015 it is defined in the Bank 54.027 rubles. This is the lowest in more than three months - the last time less than 55 rubles. the official exchange rate of the dollar fell 27 December 2014, when he was 52.0343 rubles. The official rate of the euro fell today by 1.71 ruble - 9 April, he set at 58.7003 rubles. This is the lowest since November 27, 2014, when the Central Bank estimated at EUR 57.9 rubles.Meanwhile, inflation in Russia in March 2015 was 1.2% compared with the previous month, when it was fixed at 2.2%, previously reported the Federal State Statistics Service. In annual terms, inflation in the country reached 16.9% in March, after 16.7% in February and 15% in January.For the first 3 months of this year, consumer prices rose by 7.4%. According to Rosstat, March 8 regions of Russia, consumer prices for goods and services increased by 1.8% or moreSource: rosbalt.ru-------------------------------------------------- -------------------Topical Archive
This prevents strong ruble?
I look through the media about Vladimir Putin meets with Alexei Kudrin and scratching their heads: what are they talking about? Just can not understand it. It seems that many journalists, describing the meeting, did not understand."Too strong ruble, according to the president, could undermine the competitiveness of the national economy", - the newspaper "Kommersant".How can undermine the national economy strong ruble? Strong, I take them used the expression, can cut back the income of commodity monopolies supplying hydrocarbon feed to the world market, but does not undermine but rather strengthen the position of producers in other industries. Americans lately are doing everything to strengthen the dollar, knowing that is the basis of stable existence of American manufacturers. And we have, it turns out, all the way around.Putin's statement on incoherently, Kudrin still confusing Bole says: "The main measures to prevent the strengthening - meets Alexei Kudrin - a measure of the government, but as soon as the government increases its spending at the expense of oil and gas revenues, it threatens further strengthening. As part of the forecast, we are now prepared, we will be able to keep within the planned parameters strengthening. "Kudrin would stick to any one coordinate system, and does not claim absolutely contrary to the allegations. MPs and the people, he said that additional costs will cause inflation, and therefore should be limited, and, in this case, by increasing costs due to oil and gas revenues, according to the minister, will strengthen the ruble. How will strengthen? After all, the costs will be made in rubles, not dollars, and therefore will increase the mass of the ruble in relation to the goods, and the same dollar, which consequently reduce the real value of the ruble, rather than strengthen.Journalists "Vedomosti" Petrachkova Alexander, Alexander Becker and assessed the situation: "Strengthening of the ruble could threaten the economy, especially the real sector, said Vladimir Putin. Therefore, the Ministry of Finance and the Central Bank will have to simultaneously fight inflation and the appreciation."It seems that the Ministry of Finance and Central Bank officials, who had taken too eager to fight inflation, at the request of the President, came on corn commodity giants, but so painful that Vladimir Putin himself, undertook to maintain inflation."The president asked urgently to slow down the pace of appreciation of the national currency", - gives "Time of news"; "Putin instructed to slow down the ruble," - says Larisa Kaftan in "Komsomolskaya Pravda".
The fact that the strengthening of the ruble, unprofitable commodity monopolies, and this president is concerned, Vladimir Putin did not hide. The President said that he had met with representatives of large companies, "they still have a margin of safety", but the rapid appreciation of the ruble could create problems for them. Their products are becoming more expensive in comparison with import and lose global competition. As the government is going to save the day? "And in the production, what goods we compete if 70% of our exports of raw materials?"We have to counteract the strengthening of the ruble by all available means!" - Selflessly and joyfully minister said. And he does not rejoice! After all this time, Kudrin did just that, for the sake of large monopolies, which supplies the world market oil, gas, metals, wood, and so on. Well, now, he is also the president received support. So now expect a new rise in prices, as Kudrin will start fighting with the strengthening of the ruble with renewed vigor.There is no doubt that Putin leaned to the side of raw material monopolies. This is the only way to describe the President's statement he made at a meeting with Finance Minister Kudrin. Six months ago, the President set the task to strengthen the ruble, reduce inflation, convertibility of the ruble, and now, under pressure from the owners of raw magnates, turns the entire policy in the opposite direction."As it turned out after the" contacts with the business, "a policy of strengthening the ruble may damage ekonomike.- Russian newspaper" Vedomosti ". - And here's to the Central Bank and the government, in fact, put the triple objective: to prevent inflation, to keep the ruble and continue to increase government spending. When such input should expect an interesting political season. If you do not resign, then serious failures are guaranteed: the task set by the president, not feasible.The situation will remain a stalemate, if not to abandon one of the three objectives - subject only two introductory equation can be solved. ""To strengthen the ruble to the Russian authorities was convenient to suppress inflation. But now, when the President ordered not to do so, before the Ministry of Finance and the Central Bank gets extremely difficult task - and not to strengthen the ruble and rising prices fight. - Blankly asks "Izvestia". - So, go ahead inflation. "Under the pressure of raw material monopolies caved interests not only president, but also the government, which has developed a three-year plan to reduce the budget revenues from the sale of hydrocarbons. For three years the share of extraction tax (MET) and export duties in the budget revenues will be reduced from 50% to 30%. "This, according to Kudrin, and there is a way to reduce the reliance of the budget on oil prices. That's only oil tycoons and their lobbyists in the government, as apparently does not frighten its dependence on oil revenues, and not pump oil, and thank their benefactors.Ivan Tevrizsky23-08-2006