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Post: Expert explains how the budget deficit will affect the ruble


US dollar and ruble banknotes. Archive photo

Analyst Syrovatkin predicted the dollar to approach 69 rubles by the end of the year

MOSCOW, August 18 – RIA Novosti. The federal budget of the Russian Federation will run a deficit at the end of the year, but there will be enough funds to cover the deficit. Therefore, there is no temptation to print more rubles, said “Prime” Oleg Syrovatkin is Principal Analyst for the Global Research Department “Opening Investments”.

According to him, an increase in budget expenditures is expected against the decrease in revenues. The Ministry of Finance noted that the deficit will be 1.665 trillion rubles, the volume of the National Welfare Fund, which is 10,775 trillion rubles, will easily cover this. Therefore, there are no prerequisites for printing money to close the budget deficit, the source said.

“The introduction of an updated budget rule, which, in our estimation, may take place in the fourth quarter, may also put additional pressure on the ruble,” he said.

Syrovatkin emphasized that the situation developed according to the scenario, which assumes that the dollar will grow to 69 rubles by the end of 2022, against the background of the decrease in foreign currency inflows to the Moscow Stock Exchange and the increase in foreign currency demand. due to the gradual recovery of imports.

Source: Ria

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