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Gref expects a sharp strengthening of the ruble to the end of the year

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Gref expects a sharp strengthening of the ruble to the end of the year

the ruble to the end of 2020 will be strengthened and the dollar will fall dramatically to 60 to 62 rubles, predicts the head of Sberbank German Gref.

world markets are likely for the dollar to depreciate by one third because of the rise of the second wave of coronavirus in the United States, the largest economy in the world. Support to rouble can render and rising in price oil, if not global return pandemije.

“Our national currency is closely linked to the price of oil, and it is hard to predict. I trust one of the oldest and most experienced analysts Henry Groube, – said Gref. He calls for the end of the year 60-62 dollars per barrel (now about 41 per barrel — ed.). It means that the ruble will be within plus or minus 60 to the dollar.”

Gref allow fluctuations of the ruble for the second wave of the pandemic, but “nobody knows how the situation will develop with the coronavirus”.

the Russian economy to cope with the economic crisis better than expected, in particular due to the floating exchange rate, to curb inflation around the target level of 4 percent. In 2014 the CBR and the government made the right decision — “let the ruble and switched to inflation targeting”. “Of course, the economy today is much more flexible to such shocks, with whom we met. And she’s going through a coronavirus is much better than I, let’s say, expected,” — said the head of Sberbank in an interview with TASS.

According to him, the Russian economy by the end of 2020 will be reduced by 4.2-4.5 percent, if not will be a second wave of the pandemic.

inflation by the end of 2020 will not exceed the target level of 4 percent, said Russian President Vladimir Putin in an interview with Paul Zarubino, the author of the program “Moscow. The Kremlin. Putin” on TV channel “Russia 1”.

“Now we have for the year was 3%. Even in the present day, we have set a benchmark of 4%, and probably somewhere around 4% and will be”, — Putin said.

the Russian economika adapted and diversificarea, reduced dependence on export of oil and gas revenues. Dramatically increased the export of agricultural products exceeds $ 25 billion. “I would tell someone in the early 2000-ies that we will export 25 billion, no one would have believed. We took first place in the world in wheat exports. It’s just a real achievement!” the President noted.

“our industry has grown recently at 90%, and the manufacturing sector more than doubled,” — said the President, adding that “a lot more needs to be done to diversify the economy”.