Economist explains why a weaker ruble will not solve the budget's problems
BCS World of Investments chief economist Ilya Fedorov told Gazeta.Ru that ruble devaluation increases the budget's ruble-denominated oil and gas revenues, but at the same time raises expenditures: to compensate for about 2.5 trillion rubles would require a weakening of the exchange rate by roughly 30%, which would accelerate inflation and push the key rate up to 20%.
Otabek Yusupov