24 May 2004 03:11
Real effective ruble rate to increase over 6% in Jan-May - Economics
Ministry
MOSCOW. May 24 (Interfax) - Russia's Economic Development and Trade Ministry is predicting that the real
effective ruble exchange rate will strengthen by more than 6% in January-May, head of the ministry's macroeconomic
forecasting department Andrei Klepach announced at a briefing on Monday.
The real effective ruble exchange rate could strengthen by more
than 7% in 2004 as a whole, he said.
"I think that 7% could be exceeded by the time the year ends, but
"We estimate the real effective ruble exchange rate will strengthen more than 6% in the first five months,"
he said.
Klepach also announced that the real effective rate strengthened 5.6% in January-April: 5.3% against the dollar and
8.3% against the euro.
Even so, the economy continues to expand, though the ministry predicts the pace of import growth will slow, Klepach
said.
this will depend on capital inflow," Klepach said. But, "in principle, this [7%] could be the quidepost for
the year," he noted. [RU EUROPE EEU ASIA EMRG ECI MCE EUR FRX TRD] cf
[Interfax] |
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