Russian Economic Ministry Expects Modestly Smooth Strengthening Of Ruble Up To 2036

Russian Economic Ministry Expects Modestly Smooth Strengthening of Ruble Up to 2036

The Russian Economic Development and Trade Ministry expects a modest, but smooth strengthening of the inflation-adjusted ruble exchange rate in the period to 2036, which will be driven by an increase in labor productivity, minister Maxim Oreshkin told reporters on Thursday.

MOSCOW (Pakistan Point News / Sputnik - 22nd November, 2018) The Russian Economic Development and Trade Ministry expects a modest, but smooth strengthening of the inflation-adjusted ruble exchange rate in the period to 2036, which will be driven by an increase in labor productivity, minister Maxim Oreshkin told reporters on Thursday.

"We proceed from a more or less stable behavior and a certain small strengthening of ruble's real exchange rate throughout the entire period," Oreshkin said.

The minister noted that the support for ruble in the given period would be provided by an accelerated productivity growth in the Russian economy.

Earlier in the day, the Russian government considered the forecast of Russia's long-term social and economic development for the period up to 2036 prepared by the Economic Development Ministry.