Peskov: there should be no doubts about the macroeconomic stability of Russia

The figures show that there should be no doubt about Russia’s macroeconomic stability, Dmitry Peskov, the press secretary of the Russian President, said, commenting on the weakening of the ruble.

During the briefing, journalists asked Peskov whether the Kremlin considers the current ruble exchange rate to be a long-term phenomenon and whether the president plans to hold a meeting on this matter.

In response, Peskov recalled the recent meeting between President Vladimir Putin and Prime Minister Mikhail Mishustin, during which they discussed the state of affairs in the Russian economy.

“It was there that it was said that our economic indicators are indeed very good, promising and better than it could have been predicted. It also dealt with actual specific figures, which testify that there can be no doubts about macroeconomic stability and there should not be. Everything else is a matter of the current situation,” Peskov said.

The government should give some detailed comments on this issue, Peskov said, adding that Putin is not planning a meeting on this issue.

On the night of July 4-5, Putin and Mishustin held a working meeting. Premier declaredthat the volume of Russia’s GDP in 2023 may grow by more than 2% if “there are no force majeure circumstances.” In addition, the prime minister noted that GDP growth in May amounted to 5.4% (compared to last year), and since the beginning of the year – 0.6%. Putin, in turn, stressed that the economic indicators of the Russian Federation turned out to be better than forecasts, which gives hope for the solution of all the tasks set during the year.

Chairman of the Central Bank Elvira Nabiullina during the Financial Congress on July 6 urged not to build conspiracy theories around the ruble exchange rate. According to her, the current dynamics of the currency is connected with foreign trade. She stressed that at the moment there are no risks for financial stability in the country.

Chairman of the Board of Sberbank German Gref, in turn, noted that he expects the ruble to strengthen. At the same time, the national currency will not drop to “extremely low” values ​​of last year, he added.