22:53 GMT +306 December 2016
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    SUPERFLUOUS STRENGTHENING OF RUBLE WILL UNBALANCE RUSSIAN ECONOMY, SAYS EXPERT

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    MOSCOW, January 26 (RIA Novosti) - A superfluous strengthening of the ruble will unbalance the Russian economy. Well-known Russian economist, deputy director general of the Russky Alyuminy company Alexander Livschits spoke about it at a news conference in RIA Novosti on Monday.

    "I do not have in mind the stopping of the economic growth or a crisis. But when the ruble grows stronger more rapidly than the economy on the whole it is a dangerous thing," Livschits said.

    According to him, first of all this is fraught with consequences for exporters, because every day "diminishes their profitability." "They do need hard currency. They pay taxes and wages in rubles, but every day they receive them less and less," explained the expert.

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