BEIJING, 10 Nov.Prime. The head of the Ministry of economic development Alexei Ulyukayev believes that currently the preconditions for the upheaval of the ruble is not.
“Now we see that the current account balance is fairly stable, on capital account improves. So I think that the reason for any devaluation expectations or shocks we have today is not” — said the Minister to journalists.
The speaker, who before joining the Ministry of economic development in 2013 with the rank of first Deputy Chairman was responsible to the Central Bank for monetary policy, called the right decision of the regulator in November last year to let the ruble float freely.
“I think this decision was absolutely correct and made in a difficult environment, I appreciate the leadership of the Bank of Russia in this direction”, — said the Minister, calling the issue complex.