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Falling oil prices to inevitably require economy restructuring — Putin

December 18, 2014, 12:34 UTC+3
The Russian leader has admitted that the possibility exists that the Russian ruble will stay at the current level
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© ITAR-TASS/Stanislav Krasilnikov

MOSCOW, December 18. /TASS/. Falling oil prices will inevitably require economy restructuring, Russian President Vladimir Putin. told the press conference

The Russian leader has admitted that the possibility exists that the Russian ruble will stay at the current level. Russia’s Central Bank has no intention to burn through its reserves, which amount to 8.3 trillion rubles, he noted.

Russian President Vladimir Putin expects that foreign currencies will continue decreasing against the Russian ruble. “I hope that that the decreasing price of foreign currency seen today and yesterday and the rising price of the ruble will continue,” Putin said during the tenth annual press conference.

Putin says current unfavorable situation may improve in first quarter of 2015, but there are many factors of uncertainty.

The Russian president has asked the government to more actively work with exporters that have big currency receipts.

 

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