Oil & Ruble Not Seen To Be Russia’s Main Concerns

Oil & Ruble Not Seen To Be Russia’s Main ConcernsThe struggling economy in Russia is already facing more challenges, including currency volatility, deteriorating oil prices and sanctions by the West. However, Arkady Dvorkovich, the prime minister, feels that this is not likely to affect the economy. Despite the 0.6 percent economic growth in the country in 2014, the dropping oil prices are likely to cause a slump in Russia economy.

According to the International Monetary Fund, the economy is likely to drop by 3.8 percent in 2015 and about 1.1 percent in 2016. However, Dvorkovich insists that the country has enough reserves to withstand this turbulence. He further said that the current situation gives the agricultural exports and manufacturing sector a competitive edge in the global markets.

Recommended Brokers:

 Min. InvestMin. DepositMax. Returns   
iqoption
$1
$10
92%
Gold
Review
FX Advisor
$1
$10
91%
Review
All brokers >>
John Miller
Follow us

John Miller

John Miller is the main author of content here at 7 Binary Options. He’s also the brand’s lead investment consultant. He’s been working for 7 Binary Options since April 2014 and brings a wealth of knowledge and experience to his role. He’s played a crucial part in developing the site and helping it grow. In his role as writer and consultant, John’s keen to help others get ahead in the ever-changing world of binary options and forex trading. He’s always happy to advise others, whether it’s complete beginners learning the ropes or more experienced traders looking for some hints and tips. John certainly knows what he’s talking about. He graduated from California State University in 2008 with a Master’s Degree in Investments and Securities. Since entering the world of work, he’s continued to put his degree to use. He’s spent over a decade working in the investment banking sector and thanks to his foresight, skills and education, he’s in a prime position to offer help to others looking to start investing.