The Ministry of Economic Development of the aggressor country states that the ruble has weakened along with the drop in prices for Russian oil and gas.
Russia’s budget for next year will provide for a reduction in prices for Russian oil and an accelerated devaluation of the ruble. The Russian Ministry of Economic Development laid out the appropriate parameters for the main macro forecast scenario for 2025-2027, on the basis of which the Russian government will calculate the federal budget of the Russian Federation, The Moscow Times reports.
The forecast says that the average dollar exchange rate from 91.2 rubles this year will increase to 96.5 rubles next year and to 100 rubles in 2026, after which the depreciation of the ruble will slow down slightly in 2027 – to 103.2 rubles per dollar.
According to the forecast of the Ministry of Economic Development of the Russian Federation, the ruble weakened along with the drop in prices for Russian oil and gas – the main export goods that bring more than half of foreign exchange earnings of the country. The average price of a barrel of Urals will drop from $70 this year to $69.7 in 2025, $66 in 2026 and $65.5 in 2027.
Last year, the ruble experienced its strongest fall in 9 years and entered the top 3 weakest currencies in the world, second only to the Turkish lira and the Argentine peso: the dollar increased in price by 26%, and the euro by 28% However, since that time the foreign exchange market has stabilized: the official dollar exchange rate on September 9 was 89.82 rubles per dollar, which is almost the same as the rate at the end of December last year.
A devaluation of the ruble will increase budget revenues for Russia, which is spending a third of its funds on the war in Ukraine. An increase in the dollar exchange rate by one ruble brings the Russian treasury more than 100 billion rubles of additional income.
As you know, on August 12 it was reported that against the backdrop of the events in the Kursk region, the Russian ruble was trading at 90.30 per dollar, which was the lowest level since the end of May.
Source: korrespondent
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