Morgan Stanley Investment Management does not know for how long the Russian economy will hold on in “stability with stagnation”, Joinfo.ua reports referring to the statement made by the head of emerging markets Ruchir Sharma for Bloomberg.
Sharma said that the oil prices would stop at the new level and since now in the Russian economy “it’s a stability, but stability with stagnation,” the economist does not know “how long they can coexist.”
Those investors, who returned to Russia after the collapse of the stock market in 2014, are leaving the country again due to the fall in oil prices and the weakening of the Russian currency. As an example, Bloomberg mentions the sale of the Russian subsidiary on the asset management of the French bank BNP Paribas and the liquidation of the fund of Templeton Russia and East European Fund belonging to Mark Mobius.
As for today, July 27, for the first time since March this year the price of a barrel of Brent crude oil fell below $ 54, and there is a hint of return to the March exchange rate of the dollar and euro against the ruble.