Source Pravda.Ru

Ruble's strengthening unavoidable

Russian Finance Minister Alexey Kudrin believes that an annual 2 to 4 percent strengthening of the ruble is unavoidable. According to the minister, the Russian government does not need to fight natural and objective tendencies of the ruble's strengthening. He added that the strengthening of the payment balance was unavoidable with the advance in the share of the machine building production and investments in the Russian economy, even not taking into account oil prices.

Kudrin mentioned that the strengthening of the real ruble rate was planned at 4 to 6 percent this year. Inflation is to be 10 to 12 percent in 2003. He reiterated that the 2003 budget envisaged oil prices at $21.6 per barrel, while they had already exceeded $26 per barrel. So, the minister expressed hope that all planned macroeconomic parameters would be achieved this year. The minister also added that the Finance Ministry would submit its proposals on withdrawing excessive money supply from the economy to the government today. These instruments "are sensitive to the market and they will not be announced", Kudrin said.

He announced his intention to create a news service called "Pravda," which means "truth" in Russian. Well, we are Pravda. The Pravda.Ru website has been working professionally in Russia since 1999

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The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

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On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part

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