Officials in Moscow are emphasizing the goal of stabilizing the ruble by making daily exchange-rate fluctuations easier to predict for Russian households and domestic and international businesses. The commentary came during the Information Society marathon, part of the Russia exhibition and forum, and was reported by TASS.
Finance Minister Anton Siluanov said that while some may resist the idea, predictable exchange-rate movements are important for businesses that engage in cross-border trade. He noted that currency swings influence operating costs, prices, and ultimately wage levels. The remarks were framed as a policy tool to provide clarity for entrepreneurs and investors navigating global markets.
Siluanov also projected growth for the Russian economy by the end of 2023, suggesting a potential near 3 percent expansion. He contrasted this with an approximate 2 percent growth rate recorded in 2022, underscoring a hopeful trajectory for the coming months.
On October 26, the finance ministry outlined a roadmap for budget expenditures over the next five years, indicating an anticipated increase in planned spending. The outlook was presented amid expectations of fiscal adjustments aimed at supporting key sectors and public investment.
Earlier statements indicated that adjustments in oil production and export volumes were being considered as part of policy reviews to balance the budget and sustain economic activity in the face of global energy-market dynamics. Further details were discussed in the context of government forecasting and strategic planning, with emphasis on maintaining fiscal stability while supporting growth.