Central Bank of the Russian Federation: Ruble devaluation is not expected

The devaluation does not threaten the ruble. “I see no reason for such a devaluation to occur,” said the first deputy chairman of the Central Bank of the Russian Federation Alexei Ulyukaev.

"We have a good payment balance, large reserves, strong fundamental foundations of the economy. The fact that the waves of the global financial crisis are also reached us and does not mean that the ruble should be very devalued," said Ulyukaev.

He noted that small fluctuations in connection with the weakening or strengthening of the euro or dollar may take place.

In Russia by the end of the year, inflation will be 13 percent. This forecast was expressed today by the First Deputy Chairman of the Central Bank of the Russian Federation Alexei Ulyukaev. At the same time, speaking on the air of the Echo of Moscow radio station, he noted that "the inflation rate is significantly reduced relative to last year." According to Ulyukaev, the increase in inflation "last year by October was 1.5 percent", while today "there will be less than 1 percent."

“I must say that a certain credit compression, a significant decrease in cash indicators, a monetary base and money supply has begun. For these indicators, we find ourselves below the forecast. It seems that if we fulfill this forecast, the chances of a significant reduction in inflation next year are high,” he emphasized.

Answering the question of possible deflation in a crisis, Ulyukaev assured that she "does not threaten the country." "It is possible to reduce fuel prices, gasoline, metal products, bricks, panels, it is possible to reduce prices for built housing. As for the consumer market, this influence cannot be so strong as to cause deflation," Ulyukaev concluded.

The outflow of capital from Russia in October will remain, but its pace will significantly slow down compared to the first deputy chairman of the Central Bank of the Russian Federation Alexei Ulyukaev. "The outflow will be, but significantly less than in September," he said.

Ulyukaev recalled that in September, the outflow of capital amounted to about $ 25 billion, and according to the results of nine months of 2008, the balance of capital of capital was almost zero.

The net inflow of capital in the Russian Federation "according to the results of 9 months (2008) amounted to 0.8 billion dollars," said the First Deputy Chairman of the Central Bank of the Russian Federation. “This is a preliminary figure,” which will be “clarified,” he emphasized. The net influx of private capital in the Russian economy in 2007, according to the Ministry of Finance, amounted to $ 82 billion.