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Russian capital market in unprecedentedly good condition, believes MOEX managing director

According to Igor Marich, this was made possible thanks to the Russian Finance Ministry’s fiscal rule coupled with the efficient policy of the Bank of Russia on inflation targeting

BEIJING, November 21. /TASS/. Russia’s capital market is in an unprecedentedly good condition now despite the pressure of western sanctions, Managing Director of the Money and Derivatives Market at Moscow Exchange (MOEX) Igor Marich said on Wednesday.

"Despite the sanctions pressure, Russia’s financial system is currently in an unprecedentedly good condition," he said.

According to Marich, "the Russian Finance Ministry’s fiscal rule coupled with the efficient policy of the Bank of Russia on inflation targeting have made it possible to stabilize the exchange rate, ensure the record-low inflation at 3.5% and surplus budget."

He added that concurrently, the country’s "sovereign funds aimed at implementation of strategic infrastructure projects and protection from declining commodities prices are being replenished.".