Russia good for investments
Western media predict revival of Russian economy: while under sanctions imposed by the US and EU, Russia is actively promoting domestic production, and replaces imported goods with Russian, and by that becomes appealing for the investments for the next couple of decades, stated Rossiska Gazeta.
Last week CNN stated that investors, who dared to return to Russia this year, are now delighted because the Russian currency has increased by 25 percent against the dollar in 3 months. Rouble is insured in gold and will survive all economic shocks more easily than dollar.
The authors of article point out that American billionaire David Bonderman agrees with that opinion. Bonderman estimated that Russia now attracts rich businessman with a long-term plans. Shortly before his statement, market participants indicated ruble as the most profitable currency in the world. In the first quarter of 2015, ruble improved its profitability by 4%.
Strong currency is not only a good basis for economic recovery, but also the reason for the fight for the leading position in the international market. Thus, The Washington Times reports that Russian economy can beat American because Russia will continue to increase its gold reserves, while Washington doesn’t think of that. According to Todd Wood, the author of the article, “US will wake up one day and realize how Russia is the one of the rare countries insured with the “yellow metal”.
Based on the records of RF Central Bank, their gold reserves have grown by 16,5% compared to last year. Only in march this year, reserves have grown by 2,58%. Another important factor is public debt, which is much lower in Russia than in US.
Source: Russia Beyond The Headlines
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