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Russia’s return to balanced budget helpful for ruble stabilization — Central Bank

It was stated earlier that foreign trade dynamics is mainly determining the ruble rate movement at present

ST. PETERSBURG, July 6. /TASS/. Russia needs to return to a more balanced budget and this will stabilize the ruble rate in particular, First Deputy Governor of the Bank of Russia Ksenia Yudaeva said on Thursday.

"We do not actually have endless resources to rebalance the budget deficit infinitely. It seems to me our problem is that we need returning to the fiscal rule in terms of a more balanced budget. This will lower the effect of the budget on rates," she said.

Foreign trade dynamics is mainly determining the ruble rate movement at present, Central Bank chief Elvira Nabiullina said earlier today.

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Central Bank of Russia

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