Ruble exchange rate will align with budget projections as imports grow - finance minister

MOSCOW. March 26 (Interfax) - The ruble exchange rate will stabilize in line with forecasted macroeconomic indicators following increased imports, Finance Minister Anton Siluanov said.

"A stronger or weaker ruble naturally affects economic actors. For instance, a weak ruble benefits exporters, while a strong ruble favors importers. Therefore, with the current strong ruble, we expect import purchases and deliveries to increase, which should bring the exchange rate closer to the levels projected in our macroeconomic forecasts," Siluanov said in an interview with the Rossiya 24 television channel.

According to the September forecast by the Economic Development Ministry, the average annual dollar exchange rate for 2025 is projected at 96.5 rubles/$1. An updated macroeconomic forecast will be prepared and presented by the ministry in April.

Exchange rate fluctuations will not impact the execution of this year's planned budget expenditures, Siluanov said. "The budget remains unaffected by exchange rate variations, as everything we've planned will be fully funded regardless of prevailing exchange rates," he said.

"This year, the planned deficit is significantly smaller than last year. Let me remind you, it was 1.7% of GDP last year and is 0.5% of GDP this year. But we see that during the year, there are certain deviations from our forecasted data. Oil is slightly different, a bit lower, the exchange rate is stronger. But that's not the main thing. The main thing is that everything planned in the budget - for achieving national development goals, for supporting people, for infrastructure stimulus - will all be fulfilled, regardless of external conditions or any other factors. The funds for this are available," Siluanov said.