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Ministry of economic development of the Russian Federation

Strength of Russian economic fundamentals supported ruble stability

23.06.2020

The ruble stability during the pandemic period was managed to be provided on account of strength of fundamentals of the national economy, Russian President Vladimir Putin said on Tuesday.

No price hike occurred in Russia, despite the challenging situation on global finance, energy and commodity markets, the head of state said, Unpredictable fluctuations affected the national economy but authorities managed firstly to prevent the ruble collapse and then it actually returned to the pre-crisis level, Putin said.

"It was extremely important for protection of incomes and savings of citizens. Such predictability, stability of the national currency, stability of the ruble was provided on account of strength of fundamentals of the Russian economy and not artificially, by a certain command," he noted.

Not many countries managed to achieve similar macroeconomic results and the labor market condition, Putin said. "We, unlike many others, managed to avoid the dramatic unemployment spike," the President added.

Source: TASS



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