The aide of the President of Russia Maxim Oreshkin said that the rise in the Russian ruble comes from a strong balance of payments, noting that the currency exchange rate this year is based on market data, unlike in the past years.
Oreshkin said, in a speech during his participation in the “New Horizons” educational marathon on Thursday: “Why is the ruble rising? Many say that the ruble (exchange rate) is something wrong, they try to deny the fact, but in In fact, the exchange rate was artificial last year, this year it completely depends on the market, without any external influence. ”
The aide also indicated to the Russian president that the strength of the balance of payments had helped support Russia’s currency exchange rate.
Oreshkin, who previously served as Russia’s Minister of Economic Development, indicated that Russia’s economic downturn this year is expected not to exceed the 5% level, and Russia’s economy will reach its lowest level by the end of third quarter. of 2022.
According to forecasts of the Central Bank of Russia, the stagnation of the Russian economy in 2022 will be in the range of 8%-10%, with the Russian economy reaching its lowest level this year in the fourth quarter of 2022 .
Meanwhile, the Ministry of Economic Development expects the country’s gross domestic product to drop by 7.8% in 2022.
Source: RIA Novosti + Interfax
Source: Arabic RT
