Fayzullin warned about the rise in prices for building materials and equipment

Construction materials and equipment will rise in price due to the depreciation of the ruble, the head of the Ministry of Construction, Irek Fayzullin, said on the air of the Rossiya 24 TV channel.

“Miscellaneous objects. They are now closely watched, and their changes in value upwards due to the change in the course are being estimated. Of course, there will be some price increase. This is the equipment that is imported, this is machinery, this is technological equipment,” leads his words “Interfax”.

At the same time, the minister stressed that 95% of domestic materials are used in the construction industry, and therefore there will be no “strong distortions” in the cost of 1 sq.m.

By data Rosstat, building materials in July rose by 0.8% compared to June. At the same time, metal tiles increased in price by 4.8% over the month, cement – by 3.3%, drywall – by 1.9%, and boards – by 1.3%.

The ruble has been weakening against major foreign currencies since the end of June. In particular, on August 9, the dollar exchange rate exceeded 98 rubles. for the first time since March 24, 2022, and the euro exceeded 107 rubles. for the first time since March 25, 2022. Against the backdrop of the collapse of the ruble, the Bank of Russia stopped buying yuan from August 10 until the end of the year under the budget rule.

Finance Minister Anton Siluanov said that the weakening is due to the trade balance – with the inflows and outflows of currency into and out of Russia, and not with the sale of business by foreigners.

According to analysts interviewed by Vedomosti, the weakening ruble will allow the Ministry of Finance to fulfill the plan for treasury revenues even against the backdrop of falling export earnings. According to them, in order to fulfill the budget within the approved parameters, the dollar exchange rate in the next six months should remain at a level of at least 90 rubles.