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Russian imports to decline slightly, exports to soar — presidential aide

It is reported that the decisions taken by the Bank of Russia will curb lending and capital outflow from the country

VLADIVOSTOK, September 11. /TASS/. Imports of Russian goods and services will go down slightly by the end of the year, while exports will soar due to the oil price recovery, Presidential Aide Maxim Oreshkin told reporters on the sidelines of the Eastern Economic Forum (EEF).

"Looking ahead, it is obvious that the current account is recovering, imports of goods and services will go down slightly by the end of the year, while exports will increase strongly as oil prices have recovered substantially, after falling to $50-55 per barrel the [price of] Russian export oil now stands at $70-75 per barrel," he said.

"This recovery will lead to improvement of the current account," the official said, adding that the decisions taken by the Bank of Russia will curb lending and capital outflow from the country. "It is obvious that now factors are turning out in the other direction and the peak of the (ruble’s weakening - TASS) dynamics has most likely been passed already," Oreshkin added.

The 8th Eastern Economic Forum (EEF) is running in Vladivostok on September 10-13, 2023. The slogan for this year’s forum is: On the Path to Partnership Peace and Prosperity. The Roscongress Foundation is the event organizer. TASS is the EEF’s general information partner.

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