07/02/2015 11:50
Haykakan Zhamanak: Ruble slump creates problems for EEU countries
‘Haykakan Zhamanak’ daily says the depreciation of the Russian ruble has created serious problems for manufacturers of the Eurasian Economic Union (EEU) member states, including Armenia.
“The problem is that the ruble’s value has halved in Russia and declined by 20-50% in EEU member countries. It means that as a result of currency fluctuations, Russian goods are becoming cheaper and more competitive in markets of EEU countries. To restore the balance, EEU countries will have to either devalue their currencies or ban import of Russian goods by means of administrative levers. Kazakhstan’s authorities have already made a semiofficial proposal concerning the second option,” the daily says.