WASHINGTON, April 18 (Reuters) - The rouble should stay relatively stable over the next two, three years, as oil prices will eventually recede, Finance Minister Alexei Kudrin said at the weekend.
“We don’t think the rouble will be changing substantially, looking at the next two, three years,” Kudrin told the Russia Today television channel at the sidelines of the International Monetary Fund and the World Bank spring meeting in Washington.
“Currently, the rouble is strengthening some, because the oil price is so high. We of course, understand that the price for oil won’t stay that high in the long term.”
The rouble has firmed about 8 percent against the dollar since the beginning of the year, closing last week at 28.16 and closing in on its strongest level since late 2008 of 27.94 hit at the beginning of the week.
Kudrin said also that Russia’s small debt-to-gross domestic product ratio of 11 percent puts the country into a good position on the debt market. If Russia is able to provide strict macroeconomic parameters of the economy, Russia’s securities, both public and corporate will be in a high demand and our assets will grow,” he said.
Writing by Lidia Kelly; Editing by Ramya Venugopal