Russian media

Russian media: news from the Investment forum

According to the Russian media, today in Moscow an investment forum “Russia calling” is held, where the important statements and experts’ forecasts on the budget for 2017-2019, about the expectations of the dollar, and inflation are made.

The goal of the budget for 2017-2019, as explained the Minister of Finance Anton Siluanov, is the resumption of investment growth. Accordingly, it limits costs, reduces the deficit (i.e. lower inflation and interest rates), and leads to a reduction in the non-oil deficit to 6.5% of GDP. The Minister of economic development economic development Minister Alexei Ulyukayev added that this budget is a search for stability and adaptation to the slow growth of the world economy.

nswering questions of journalists, experts shared their predictions of the ruble. The head of VTB 24 Mikhail Zadornov believes that it is likely to strengthen by the end of 2016. The head of the Central Bank Elvira Nabiullina believes that the ruble devaluation will not happen. B. Kheifets, Professor of the Financial University of the Government of the Russian Federation, said that in the short term prospect the ruble will be around 60-65 rubles per dollar. However, in 3-year forecast the Ministry expects depreciation to 71 rubles/US dollar. Today, the official dollar exchange rate is RUB 62.19.

According to the CBR, the current level of inflation (6-7%) is too high. A necessary condition for economic growth is low inflation. Now the favorable level of investment is 4% and below, it should be reached in 2017. The Ministry expects the recovery of investment activity in Russia in the second half of 2017.

Sources: RIA Novosti, RIA Novosti, RG.ru, VTB Capital, VTB Capital, Izvestia, RIA Novosti, Kommersant