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Friday, October 28, 2016

Putin commented on the fate of the ruble and spoke about the relationship with the Central Bank

Russian President Vladimir Putin in an interview with Bloomberg explained his words about the excessive strengthening of the ruble, spoke about the relationship with the Central Bank, and also commented on the government’s decision to replace the additional indexation of pensions a one-time payment.

photo: Natalia Gubernatorova

Made in July a statement about the risks associated with the growth of the ruble, was not an attempt to influence the Central Bank, said President Vladimir Putin in an interview with Bloomberg, which was held on the sidelines of the Eastern economic forum in Vladivostok.

According to the head of state, the national currency should correspond to the level of economic development. “Of course, I keep in touch with members of the Board and Chairman of the Central Bank, but I never give directives. If I talked about the fact that the ruble is too strong, I did not say that the position of the Central Bank is wrong”, — quotes Putin’s Kremlin website.

Note that later, during a meeting with foreign investors in Vladivostok, the Russian President stressed that the floating exchange rate of the ruble will continue in the long term. “Today we have a floating currency, you know. There are great advantages (…) and some difficulties that arise. But we solution is accepted. You just have to know what are these decisions, they took place a long time” — said the President.

Bloomberg also asked Putin to comment on the Cabinet decision to replace the additional indexation of pensions for a one-time payment of five thousand rubles.

As pointed out by Putin, a lump sum payment for each pensioner in General is comparable with compensation”. The President stressed that the authorities will act “very pragmatic and very carefully”, thus fulfilling all our social obligations before the population.

“We are reducing costs for those positions that do not consider a priority, and do not intend to thoughtlessly scatter our reserves thoughtlessly and burn them at the sake of some political ambitions,” – said the head of state.

Earlier, Prime Minister Dmitry Medvedev said the replacement of doindeksatsii for a single premium fair measure in the current economic situation. He added that it would be better if pensioners will be able to buy something for the feast” than “will be smeared with a thin layer.

Read another part of the interview: Putin admits a compromise with Japan in the dispute over the Kuril Islands, and “Putin: review of the outcome of the Second world fraught with unpredictable consequences”


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