ECONOMICS MINISTER: RUSSIAN ECONOMY STILL IN CRISIS.
Publication: Monitor Volume: 1 Issue: 29
Despite some recent improvements, the Russian economy is not out of the woods, economics minister Yevgeny Yasin told Moscow radio June 8. Inflation will stay at 5-7 percent a month this year, not the 1 percent Moscow had hoped for. Moreover, the recent rise in the value of the ruble is also increasing inflationary pressures, Yasin said. By buying dollars from the population, Russian banks were increasing the ruble money supply in the country. But the banks apparently do not think the ruble will continue to rise. On June 8, they were buying dollars again, Yasin noted.
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