ALEXEI VEDEV SAID THE CURRENT USD/RUR EXCHANGE RATE IS IDEAL FOR INVESTMENT IMPORTS

In his interview with the Govorit Moskva radio station, Alexei Vedev, Doctor of Economic Sciences, Head of the Financial Studies Department of the Gaidar Institute said that it was rather complicated to implement modernization programs at the USD/RUR exchange rate of Rb70-Rb80 per $1.

“The exchange rate of Rb70-Rb80 per $1 is not good for modernization because purchasing of machinery and equipment at such a high exchange rate is getting quite expensive. Currently, the exchange rate is ideal for investment imports. But we cannot take a full advantage of it. Under parallel imports, we do not buy equipment for an engineering plant, twine production and so on. By parallel imports we mean liquors, neckpieces, consumer goods.”

Also, Alexei Vedev notes that the government should not interfere into competition for the sake of the economic development. Alexei Vedev has mentioned as an example the banking sector which, being in private hands, receives record-high profits.