Author`s name Pravda.Ru

Don’t Hide Your Dollars - 24 February, 2003 - News - Comments

Can the government once again organize a tremendous devaluation of the ruble? A tendency for ruble strengthening that has recently outlined in the country seems to be a serious alarm for financial analysts. And there is no wonder that it is so. First of all, a strong ruble will reduce the competitive strength of Russian exporters. This is actually very serious, as Russia’s export of raw stuffs is a condition of successful budget performance and a guarantee of another exact foreign debt payment. No matter what analysts may say, “easy” petrodollars are a considerable dope for a worn engine of the Russian economy. But as nobody is interested in a strong ruble, there will be no strong ruble at all

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