The MP said that the error of the Central Bank prevents appreciation of the ruble

The MP said that the error of the Central Bank prevents appreciation of the ruble


If the government and the Central Bank will continue the same policy, Russia may find itself in very serious economic and socio-political crisis, warned the state Duma Deputy Mikhail Emelyanov.

MOSCOW, 20 Jan. Monetary policy of the government of the Russian Federation and the Central Bank should be changed to strengthen the ruble, said the first Deputy Chairman of state Duma Committee on ekonompolitike Mikhail Emelyanov (“Fair Russia”).

The dollar has updated the historical maximum, having risen above 81 of the ruble amid falling oil prices below $ 28 per barrel.

“The main mistake of the government and the Central Bank that they are continuing the same policy that was in the “fat years”, based on oil wealth. No changes in policy to make they don’t want. And this is a political problem. Should fiscal policy be changed, should be changed monetary policy of the Central Bank”, — said Emelyanov.

According to him, in accordance with the increase of the dollar is the policy of the Federal reserve system of the USA on strengthening of the currency.

“And they act in their own interests. The political consequences for Russia — it’s a side effect, as with other oil-producing countries. While Americans will follow this policy, the dollar will strengthen the ruble to fall, oil will fall in price, and the ruble will fall. The question is whether the us economy will sustain the dollar, because everything is not clear”, — the Deputy noted.

But while the trend is such that the discount rate will increase the number of dollars in the global economy to decline and exchange rates in developing countries will fall, he added Emelyanov.

“I think that given the political events of September in our country and in other countries, Americans will squeeze out of the dollar and will play on improving to the last forces. But they will seek to internal economic policy of Russia also has not changed,” — said the MP.

“We need to respond by changing monetary policy and fiscal policy. It is necessary to stimulate consumer demand, compensating for the population losses from the devaluation, the increase in the money supply,” says Emelianov.

In his opinion, it is necessary to impose currency controls, other measures of currency regulation and stimulate the development of the real sector of the economy.

“If the government and the Central Bank will continue the same policy two or three years ago, we fly into the very serious not only economic but also social and political crisis”, — said the first Deputy Chairman of state Duma Committee on ekonompolitike.