The effective ruble rate will become stable after 2011 and the ruble may again set to appreciating from 2015.
Photo: Oleg Kharseev
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Ruble to Appreciate after 2015
The effective ruble rate will become stable after 2011 and the ruble may again set to appreciating from 2015, says the concept for long-term social and economic development of Russia elaborated till 2020, Interfax reported.
“The formation of balance-sheet deficit under the current account transactions creates conditions for halting the ruble appreciation,” says the government’s concept, specifying that the stabilization is expected after 2011 and the appreciation will probably repeat in 2015 through 2020.
At the turn of 2010 to 2015, the change of the payment balance will be one of the key factors of the macroeconomic stability.
“The surge in the imports and payments for corporate debt servicing and material decline in the oil and metal prices may advance the balance of current account transactions to the negative value zone already in 2010,” the concept says, forecasting that the trading balance will have the red ink by 2012.
The growth in consumer prices won’t exceed 4.5 percent in 2015 and will be 3 percent in 2020, according to the concept.
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