• The Finance Ministry has rejected the impact of the US elections on the Russian economy

  • The Finance Ministry does not expect a significant impact of Brexit and the election of the President of the United States on the Russian economy. On Tuesday, November 1, said Deputy Minister of Finance Maxim Oreshkin, reports Rambler News Service.

    According to him, Russia's dependence on external risks are currently reduced in comparison with the 2013-2014 years.

    Domestic balance of payments is not dependent on external funding and currency, which the country needs, arrives on the current account, assured the Deputy Minister. "Moreover, currency does not need a lot, and we see it's dramatically slowed down the outflow of capital: the situation is balanced", — he said. Next year the Finance Ministry will increase the volume of borrowing on the domestic market.

    However, the oil price remains the main factor influencing Russia, said Oreshkin. He stressed that the drop in the price of fuel three to four times compared with the level in 2013-2014 "is now simply can not happen".

    As of 12:20 Moscow time the cost of the December futures for North sea Brent blend was $ 48,90 USD per barrel, or 0.62 percent above the closing level of the previous trading session.

    Earlier of November 1, chief researcher of the Center for North American studies, Institute of world history RAS Alexander Petrov said, the results of the election of the President of the United States will not have a significant impact on the Russian economy. For the country more important than the outcome of Congressional elections and the impending OPEC meeting in late November.

    The U.S. presidential election will be held on 8 November. A favorite is the Democratic candidate Hillary Clinton, billionaire Republican trump is lagging behind it by a few percentage points.

    The economic program Hillary Clinton implies an increase in investment in science, education and infrastructure, raising the minimum wage. The democratic candidate also proposes to raise taxes. Donald trump, in contrast, advocates for the widespread relief of the fiscal burden. Billionaire insists on returning to U.S. jurisdiction of companies that are incorporated abroad to optimise tax payments.

    A referendum on British exit from the EU was held on 23 June. During the referendum for a Brexit voted more than half of British voters. After that, the Prime Minister of the Kingdom David Cameron has resigned, and his place was taken by Theresa may. According to her, the official negotiations with the EU Brexit will not begin until 2017.


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