An employee of the Institute of Economics of the Russian Academy of Sciences Nikolaev predicted the strengthening of the dollar to 85 rubles
If current trends continue, the dollar exchange rate in 2023 may rise to 85 rubles. Such a forecast in conversation with Sputnik radio was given by the chief researcher of the Institute of Economics of the Russian Academy of Sciences, Doctor of Economics Igor Nikolaev.
According to him, the reason for the strengthening of the US currency against the ruble will be the deterioration of the balance of payments. A drop in export earnings, primarily oil and gas, as well as an increase in the need for imported goods and their rise in price will increase the demand for dollars with a decrease in supply.
Nikolaev pointed out that the process is still ongoing, it is too early to talk about its imminent completion. At the same time, the expert does not believe that the ruble will weaken by another 20 percent in the near future, however, by the end of 2023, if there are no new important factors, the dollar may reach the indicated rate.
The ruble began to depreciate against the dollar and euro since December last year, against the backdrop of the entry into force of Western sanctions on offshore shipments of Russian oil. We are talking about both the entry into force of the oil price ceiling at $60 per barrel, and the beginning of the EU embargo.
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Against this background, the dollar exchange rate on Friday, February 24, for the first time since April last year, exceeded 76 rubles, the euro consolidated around 80 rubles. At the same time, as of February 20, the budget deficit is at the level of 3.8 trillion rubles, with an annual plan of 2.9 trillion. Commenting on these circumstances, Russian Finance Minister Anton Siluanov promised to meet the set spending parameters without increasing the budget deficit in 2023.
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