Klepatch : the weakening of the ruble could give budget to 900 billion Oslablenie may further bring the budget in 2014 to
800-900 billion rubles , according to Deputy Economic Development
Minister Andrei Klepach ."
That change in the exchange rate , which we happened actually gives ,
for a variety of our estimates, taking into account other hypotheses
plus budget revenues at the federal level over 800 , under the 900
billion rubles this year ," - he said , speaking at a conference at the Higher school of Economics on Thursday .
" Therefore, the worse for the exchange rate , the better for the budget, but that does not mean that it is better for the economy as a whole ," - said the deputy minister.According to him , the weakening ruble leads to higher inflation , lower domestic demand . " In this sense, in the short term, we lose the pace of growth. Instead, we have the additional budgetary resources , which is actually not sterilized budget rule " - said Klepatch .
" Therefore, the worse for the exchange rate , the better for the budget, but that does not mean that it is better for the economy as a whole ," - said the deputy minister.According to him , the weakening ruble leads to higher inflation , lower domestic demand . " In this sense, in the short term, we lose the pace of growth. Instead, we have the additional budgetary resources , which is actually not sterilized budget rule " - said Klepatch .
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