The strengthening of the dollar and the euro will lead to a rise in the price of goods imported into Russia. Higher School of Economics professor Yevgeny Kogan shared his predictions.
“We still have a huge amount of imported goods, import prices will rise, there will definitely be a revision of price tags in the store. We are waiting for a new round of inflation,” the speaker said in an interview with the “Moscow Speaks” radio station.
The country’s budget due to what is happening will be replenished. As an example, the expert cited the following ratio: if the exchange rate decreases by 10 rubles, this leads to additional income for the Treasury in the amount of at least 1-1.5 trillion rubles.
As an inflation-fighting measure, the Central Bank can raise interest rates by 0.5-1%. This, in turn, may lead to more stringent requirements for capital withdrawal.
“The government in this situation can work with exporters, asking them to sell the currency more actively. They can simply introduce the mandatory proceeds from the sale of foreign exchange earnings. There is always such a possibility that the Ministry of Finance, instead of reducing yuan sales, will increase sales,” Kogan concluded.
Earlier, experts said that several negative factors simultaneously weighed on the ruble. The national currency will continue to fall if the rise in oil prices does not continue.
