Pavel Lisitsyn / RIA Novosti
The Ministry of economic development proposed to set a target to increase the share of ruble settlements in foreign trade by 2024. With the level of 20.3 percent in 2018 it is proposed to raise at least 30 percent, says owned by Grigory Berezkin the RBC.
The draft foreign trade key performance indicators KPI in external trade in December, will represent the government Commission on economic development and integration. To increase the share of payments in rubles has been discussed earlier, but specific numbers were not.
In the first half of 2019, the share of payments in rubles reached 21.2 percent. More than half are still dollar — 51.2%, and 24.6 per cent in euros. However, the share of U.S. currency in recent times is reduced, and the European is increasing. Another three percent of the calculations accounts for other foreign currency. In payment of imports, the ruble is involved in two times more — 31 percent, and for exports, Russia receives only 14.4 percent.
The plan of the Ministry means that in five years the Russian ruble should either be compared to the dollar and the Euro, or to get ahead one of these currencies in the foreign trade calculations. The Ministry want to ensure that in 2024, the volume of settlements in rubles in dollar equivalent made up of not less than 300 billion dollars.
Also, the plan assumes that the share of ruble settlements in relations with the countries of the EEU, that is with Belarus, Kazakhstan, Kyrgyzstan and Armenia will reach 90 percent (now 70 percent).
Experts call the goal too ambitious to achieve which will be difficult. In the first place remains unclear at the expense of trade with which partners it can share trade in rubles could rise by a third. However, they do not exclude that in the presence of political will, the result, which is hard to believe the economists, will still be achieved.
In November, the Russian rouble from the point of view of investors turned out to be the most stable since the beginning of the crisis in 2014. Significantly more stable exchange rate was considered only before the crisis of 2008, but then the Central Bank of Russia was engaged in its support, and now the exchange rate is determined by market factors.
Video, photo All from Russia.