Increase the average price of oil at one dollar per barrel gives trade balance further three and a half billion dollars. The statement was made by the Central Bank first deputy chairman Alexei Ulyukaev. His words RIA news.
According to Central Bank estimates, the surplus trade balance of Russia on the basis of 2009 range from 50 to 80 billion dollars. Thus, if the price of oil was 41 dollars per barrel (it is of such a prediction to-the updated budget for 2009), the trade surplus will not exceed $ 40 billion.
The Central Bank is not the first time makes predictions that differ significantly from the forecasts of relevant ministries. Thus, at the end of March Ulyukaev said that the average exchange rate in Russia will be 32-33 rubles, rather than 35.1 rubles, as it is written in the budget.
In addition, the Central Bank did not agree with the data on inflation and capital outflows. Monetary authorities have felt that the pace of price growth in Russia could be below 13 percent, while the government predicts 13-14 per cent. With regard to the evaluation of capital outflows, according to CB, it will be less than 70 billion dollars, not 90 billion dollars is expected in the Ministry of Economic Development.
Projections of the Central Bank is more optimistic than the forecasts of the government. For example, the Central Bank believe that Russia does not wait a second wave of banking crises, and the worst for the economy is already behind us. In the Ministry of Finance believes that the banking crisis is to wait because of the growth in defaults on loans.
The price of oil in the first quarter averaged 44 dollars per barrel. In April, the cost of oil also remains above the government forecast in the 41 dollar per barrel. It is possible that due to the worsening global economic crisis, oil prices begin to fall again. Even in summer 2008, oil cost more than 140 dollars a barrel.
At the end of the first two months of 2009 Russia's balance of trade surplus amounted to 15.2 billion dollars. For comparison, in 2008 the figure stood at 33.4 billion dollars.
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