Thursday, December 25, 2014

The economic crisis in Russia. Foreign exchange reserves lowest in five years – Money.pl

The economic crisis in Russia. Foreign exchange reserves lowest in five years – Money.pl

2014-12-25 17:58

 The economic crisis in Russia. Foreign exchange reserves lowest in five years

[Photo: PAP / EPA]


Today, they amount to $ 398.9 billion, which means that you are now at the same level as 2009 – the announced Russian central bank in Moscow.

This means that only between 13 and 19 December Russian foreign exchange reserves, classified as the largest in the world, melted 15.7 billion. – Notes the agency dpa.

The Finance Minister Anton Siłuanow said that the depreciation of the ruble has stopped. We now see a tendency for the strengthening of the ruble – he added. After a historically low rate as the Russian currency reached last week, the ruble significantly rebounded thanks to the intervention of the state.

At the same time, more and more companies public and private sector – including oil company Rosneft, VTB Bank (VTB) and airlines Transaero – for fear of not being able to pay the payment within applying for guarantees, loans and other aid mechanisms.

The government announced the possibility of supporting companies funds from the National Welfare Fund, which currently amounts to approx. 77 billion.

The Russian economy is in crisis because of falling oil prices and sanctions imposed by the West on Russia for its role in the crisis in Ukraine. The state budget will largely depend on the proceeds from the sale of crude oil.

Read more in Money.pl

LikeTweet

No comments:

Post a Comment