Anticipating the collapse of the ruble, Kudrin too optimistic
Russian Finance Minister Alexei Kudrin predicts the devaluation of the ruble. This, he said during a lecture at the Academy of Budget and Treasury. According to the official, the government will be forced to take this measure because of the continuing downward world oil prices, which by 2010 could yield up to 50 dollars a barrel. In this case, the government will have to begin selling reserves, or go to the devaluation of the ruble.
According to the Minister, this may be the gradual devaluation of the order of 1-3% per annum.
Meanwhile, in the opinion of independent experts, Kudin too optimistic in their projections. Interviewees “Independent” newspaper economists believe that the devaluation could begin much sooner.
