Russian PM Sees Stable Economic Situation in 2002

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Last updated at: (Beijing Time) Monday, December 24, 2001

Russian PM Sees Stable Economic Situation in 2002

Russian Prime Minister Mikhail Kasyanov said Sunday that the Russian government and the central bank could fully control the foreign exchange rate in the coming new year.

Russian Prime Minister Mikhail Kasyanov said Sunday that the Russian government and the central bank could fully control the foreign exchange rate in the coming new year.

In an interview with the independent NTV channel, Kasyanov said that the average exchange rate in 2002 is expected to be at 31.5 ruble against one U.S. dollar and it might rise to 32 rubles against one dollar at the end of the year.

The 2002 budget was revised at the last stage of its approval in parliament, which would enable the Cabinet to manage it irrespective of possible fluctuations in prices of oil and other commodities on the world market, Kasyanov said.

The situation would remain stable, he said.

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