The fall of the Russian ruble emphasizes major problems in the economy of the Russian Federation - WP

According to journalists, Russia still has a fairly stable trade balance, but this is not enough to compensate for the outflow of capital and stabilize the exchange rate. On Monday, August 14, the Russian ruble fell to the lowest dollar in 17 months. Yes, it dropped to 102 rubles for $ 1. This was reported by the American edition of The Washington Post. According to the journalists, the ruble lost about a quarter of its value to the dollar since Russia has fallen full in Ukraine in 2022.

Western sanctions have caused harm to Russia's trade balance, and military expenditures increased sharply. Budget deficits and a significant lack of labor have also contributed to the growth of inflation. The publication writes that, according to a recent survey, last month, more than 40% of Russian industrial enterprises reported a lack of labor.

Economic analysts say that the recent rebellion of Wagner PEC, headed by Yevgeny Prigogin, as well as rumors about a new wave of mobilization, may have also led to a decrease in ruble. Oleg Itshoki, Professor of Economics of California University in Los Angeles, said that a new fall was part of the "constant trend of devaluation" and acceleration, not a natural crisis.

According to Izhoki, although Russia still has a fairly stable trade balance, but this is not enough to compensate for the outflow of capital and stabilize the exchange rate. The Central Bank of the Russian Federation can make a "little", except for the re -introduction of the financial restrictions that it introduced at the beginning of a full -scale war with Ukraine.

"There is also a good time to impose financial and export sanctions for the West to limit the fiscal space for Russia's current and future military action in Ukraine and other places," he said. It should be reminded that on August 9 it was reported that the Russian ruble got to the top three of the worst currencies among developing markets.