Looking ahead, it is clear that the country's current account balance will recover, imports of goods and services will fall slightly by the end of the year, while exports will grow strongly as oil prices have risen sharply, Russian presidential aide Maksim Oreskin told the Eastern Economic Forum in Vladivostok on Monday. He added that the recovery would lead to an improvement in the current account balance, and that decisions taken by Russia's Central Bank would curb capital outflows from the country.
The weakening of the ruble is probably past its peak, all in all, and now a strengthening is expected, Mr Oreskin explained.
Car industry's also booming
After it became clear that Moscow is standing up to Western sanctions, car sales figures have soared, according a piece published by our paper. Statistics published on the Russian Green Way website show that the increase for this August was 49 percent, with nearly 70,000 vehicles sold across Russia this month alone. In 2022, the Russian car market witnessed a decline of more than 50 percent compared to the previous year, as registered new car sales stood at 687 370 last year, compared to 1 666 780 in 2021.
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