Macroeconomy

The French analyze the fall of the ruble in Russia

The largest French Newspapers: Le Monde, Le Figaro, La Croix and Liberation today consider the causes and consequences of the fall of the Russian national currency. Among the main causes of the incident called the fall in oil prices and Western sanctions over Ukraine. Russia’s future seems uncertain and bleak.

The main motivation for the above analysis was the inflation rate of the Central Bank of Russia from 10.5% to 17% in the night from Monday 15 December to Tuesday 16 December 2014. The head of the Ministry, Elvira Nabiullina has set a goal to limit negative effects from weakening of the national currency, reduce inflation. Details and rationale can be read on the website Russian Central Bank.

Upon Monde, the country saw the most significant drop in the currency since 1998. “Nightmare” refers to the edition of forecast 2015 for the country where the expected recession, the decline in GDP will amount to 4.5%.

Alexis Hontang from La Croix connects the fall of the ruble also low productivity of the Russian economy. The projections of La Croix is the opinion of the experts that the main task is to return trust of the population, converting money into dollars. Changes to be expected after the press conference of Russian President Vladimir Putin.

On Putin concentrating the same look liberal Liberation. The forecast for 2015 is “nightmare”, and the previously announced Putin measures (2 year tax moratorium for new businesses, Amnesty for returning capital) taken with skepticism, Prime Minister Medvedev has instructed to reduce expenses by 10%.

Against the background of the articles, where the dark gives way to dark, comment Le Figaro hysterical about the purchases of TVs, tablets, furniture and cars due to the falling exchange rate makes even a tinge of optimism. However, the hysteria will last 1-2 months.