Russia can be calm for their economy. Through thoughtful and timely measures at the country’s immunity even to a global crisis, says Swiss analyst Matthias Siller.
MOSCOW, 23 Jan. The Russian economy demonstrated remarkable resilience, and reasons for concern, the country does not have, despite the fact that the whole world is economic instability and oil prices remain low, noted Bank analyst Barins Matthias Siller in an interview with Finanz und Wirtschaft.
According to Siller, the calm of Russia is quite sound. First, there is no threat of insolvency of the state. All political differences with the West and against Russia are taking measures, the country has proven that its economy is unsinkable.
Secondly, in Russia, despite the devaluation of the ruble, is not observed outbreaks of inflation. In addition, the country is, in fact, benefits from low oil prices, because the supply is significantly increased.
According to analyst, an important role in maintaining the stability of the Russian economy played adopted in 2014 by the Central Bank (CB) a decision not to intervene in the foreign exchange market and let the exchange rate. At the same time, the Central Bank takes measures to ensure liquidity and the consolidation of banks and the financial system remains flexible.
In the private sector there are significant changes: there are enough examples of Russian IT companies that can compete with international ones. This suggests that in Russia there are highly qualified human resources, which the state supports, says Siller.
In addition, according to Siller, Russia at the moment there is no urgent need for foreign investment because of the fixed capital of the country has reached a high enough level. The emphasis is successfully placed on the substitution — in addition to the production of cars is already significantly “Russified”, there is also great potential for food production.
It is noteworthy that Russia still manages to have a positive trade balance, even with such low oil prices, said the analyst.