Russia’s Finance Ministry sees no reason to talk about the dollar at the level of 100 rubles

Russia’s Finance Ministry sees no reason to talk about the dollar at the level of 100 rubles


MOSCOW, December 11. Russia’s Finance Ministry sees no reason to talk about the dollar at the level of 100 rubles.

This opinion was expressed by Deputy Minister of Finance Maxim Oreshkin at the business Breakfast of the newspaper “Vedomosti”, “the Macroeconomic forecast 2016 Best investment strategy”.

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“The reasons for the rate of 100 rubles per dollar from a macroeconomic point of view there, particularly in 2016”, – he said.

The Ministry expects the ruble, while maintaining the trends in the outflow of capital in 2016 and the price of oil is $50. According to Oreshkin, the capital outflow will be less than the projected $60 billion for the current year. “In any case, the outflow will be lower than in 2015. No more than $60 billion,” he said.

According to the official, while maintaining the trend of capital outflows next year, the ruble could be stronger than expected by the Ministry of economic development, – 63 rubles per dollar.

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“We have a scenario in which the ruble may be significantly stronger. If we are talking about the outflow of capital at the same rate as we see it in the second half of the year, the ruble will be stronger at 50 dollars per barrel”, – he added.

In the next 10 years oil prices will be tied to gas prices, noted the Deputy Finance Minister, adding that global oil prices in the next 5-7 years will be 40-60 dollars per barrel. “We see a fork from $40 to $60 per barrel in the next five to seven years,” he said.

Oreshkin also noted that weekly inflation in December will be at the level of 0.1-0.2%, for the year will amount to 12,6-12,7%.