In Russia, they told how dangerous the strengthening of the ruble

24 May 2022, 14:18 | Economy
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Russian experts believe that the current strengthening of the ruble may negatively affect the economy of the aggressor country. Exporters and the state budget are suffering, and importers of products, who have tensed up and do not know what to do, are next in line. Russian media write about it.

First, exporters lose. The higher the exchange rate of the national currency, the lower the sales revenue. “When converting export earnings into rubles, it is better to get 100 rubles for 1 dollar than, for example, 75. It is clear that in an open healthy economy, a balance must be struck, since at the same time it is better to buy foreign goods for 30 rubles per dollar than to pay 75 rubles for the same dollar, ”says Andrey Maslov, an analyst at FG Finam. Secondly, loses the budget. The lower the income, the lower the tax base for enterprises, which reduces budget revenues.

Thirdly, it is fraught with a further collapse in imports, rising prices and a decrease in the country's competitiveness.. You can already talk about the " " As a result, this leads to a lag in high-tech industries and an increase in the cost of goods in the long term,” says Denis Domashchenko, professor at the Plekhanov Russian University of Economics..



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Earlier it was reported that the Ministry of Economy of Russia became worried and believe that the strengthening of the ruble has already reached its limit.. “According to our estimates, now the strengthening of the ruble is at peak levels. Imports, capital flows will adapt to new conditions. An important role in these processes should be played by the further reduction of the key rate by the Bank of Russia,” the department said..




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