As the politician noted, from December to February, Russian exporters cut their foreign exchange income by half, and the situation will not improve in the coming months.
The dollar savings of the Russian Federation began to run out and the first deficit indicators were recorded. This was stated on the Telegram channel by Daniil Getmantsev, chairman of the Parliamentary Committee on Finance, Tax and Customs Policy.
According to him, the Russian Federation has already begun to have a shortage of dollars, and this is indicated by the data of the local Central Bank. In February, exporters sold $7.8 billion in foreign exchange earnings on the stock market. At the same time, in January this figure was at the level of 10 billion, and in December last year – $ 15 billion.
With the outbreak of all-out war, foreign exchange earnings in the country decreased significantly. While the share of settlements in exports was 87% until February 24, 2022, this figure dropped to 48% in February 2023.
Now, the share of dollar and euro-denominated settlements is expected to continue to decline, as all currencies are covered by pre-war contracts and are already near completion. Also, as Daniil Getmantsev noted, almost half of transactions today are carried out in Chinese yuan and Russian rubles.
“According to the Central Bank of Russia, the trade balance surplus in the January-February period amounted to 15.3 billion dollars, more than tripled from 43.5 billion dollars in the first 2 months of 2022. The dollar appeared in the foreign exchange market, liquidity,” explained Getmantsev. .
Recall that on February 17, the Bloomberg portal wrote that the Russian economy will lose 190 billion in the next three years due to the war. Analysts of the publication noted that the decline in the Russian economy is stronger than during the Covid-19 epidemic and will worsen in the future.
Source: Focus
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