Ruble devaluation will hit Ukraine hard, expert (VIDEO)
Kyiv, November 10 (PolitNavigator, Vladimir Raichenko) – Kyiv should not be too happy about the current Russian economic problems, much less the devaluation of the ruble, since this will seriously hit Ukraine itself.
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This conclusion follows from a speech at a press conference in Kiev by Oleg Ustenko, executive director of the International Blazer Foundation, reports a PolitNavigator correspondent.
“The depreciation of the ruble means that Russian manufacturers are becoming more competitive on the world market,” the expert points out. “And from this point of view, the devaluation that they have plays into the hands of some exporters who are not subject to sanctions and who can be represented outside their country. On the other hand, and this is true, importers present on the Russian market may suffer from the devaluation of the ruble. Imports are becoming more expensive, now up at least 20 percent in Russia over the past few months and in fact 50 percent since the start of the year.”
Oleg Ustenko urged not to forget that Ukraine is also an importer for Russia.
“And an additional factor that continues to negatively affect us is the devaluation of the ruble,” says the executive director of the Blazer International Foundation. – On the one hand, there are some political reasons that cannot but please Kyiv. But on the other hand, this is reflected in our exporters. Based on the results of this year, we expect a decline in our exports to Russia at the level of 30–40 percent.”
Ruble devaluation will hit Ukraine hard, expert says (VIDEO)