Russia could raise funds in rubles in the coming years, Finance Minister Anton Siluanov said, adding that the US dollar and the euro could become “toxic” currencies.
Siluanov also said that the government’s budget should be designed to help the government build up its reserves and stabilize the national currency, which has strengthened to multi-year highs, as a result of capital controls imposed on Moscow in response to western sanctions.
Russian officials are now working on new parameters for the fiscal code, which sets out how Moscow’s huge oil and gas revenues are to be shared between budget spending and investment savings.
Source: Capital
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