“‘One of them is the problem of dependency on energy. Forty percent of state revenues and 40% to 45% of Russia’s GDP come from profits from oil and gas sales. This means that Russia may get a double blow during the second wave of the economic crisis,’ he said.
“Focusing on the national currency alone would be the wrong path to take, he argued.
“Strengthening the ruble would result in cheaper imports and hence damage domestic production, while taking no measures to strengthen the currency might set off uncontrolled inflation, he said.
“He called for a diversified range of measures, including inflation control.”
My Comment: The solution is to correct the use of money as a means of exchange and connection in society, to make it the equivalent of bestowal and connection, rather than domination and power. Without solving this problem, we won’t be able to come out of the crisis. In any case, the crisis will destroy the use of money as a means of accumulation, power, security, and achieving other egoistic goals.