Marcel Salikhov, Director of the Center for Economic Expertise of the Institute for Public Administration and Governance University Higher School of Economics, commented to the TV Channel Five on minimizing the negative effect of sanctions.
The government believes that the economic situation in the country as a whole is stable. To keep it that way, the Prime Minister gave a number of instructions.
It will not be possible to completely overcome the effect of sanctions
Marcel Salikhov, also believes that the reserves accumulated by the state will be enough to stabilize the situation in the banking sector. However, it will not be possible to completely avoid the negative effect of sanctions.
“The Central Bank has been implementing several decisions over the past two days, including foreign exchange interventions. Now the Central Bank is selling foreign currency from its reserves in order to keep the ruble exchange rate. And the depreciation was relatively small. But there are long-term and short-term effects of the sanctions. There may be targeted solutions in certain sectors of the economy, but it is impossible to completely overcome the negative effect of sanctions,” Salikhov stressed.
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