The weakening of the ruble does not pose long-term risks to the economic stability of the country. About this TASS declaration Askhab Indarbaev, executive director of the CSR specialist club.
“Currently, inflationary risks are quite low. This is partly due to the significant expansion of the range of import substitution products in the country in recent years, which means that Russian consumers do not have to overpay for foreign analogues.
According to him, the current situation with the weakening of the ruble helps companies focused on the export of products. That is, a depreciation leads to an increase in income in rubles. By receiving additional funds, it is possible to increase the volume of investments for the expansion of production. On the other hand, it is possible to create new employment in this way.
He added that despite the difficult foreign policy situation, the Russian authorities took timely decisions that would stabilize the domestic economy. For example, while the real wages of the population will increase by 4.2 percent in the first four months of 2023, the minimum wage will increase by 18.5 percent in 2024.
July 6, head of the Bank of Russia Elvira Nabiullina during the Financial Congress of the Central Bank statedThe inflation targeting regime and the floating exchange rate in the ruble showed its effectiveness.
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