A low euro exchange rate will have a catastrophic impact on the US and EU economies, but it is beneficial for Russia, economist Grigor Sariyski said in an interview with Bulgaria ON AIR TV channel.
Commenting on the recent fall of the euro below the value of the US dollar, Saraisky noted that „such a low rate is a disaster for both the European and American economies.”
He argues that the euro exchange rate is currently not beneficial for European producers, because they pay in dollars, and exports are carried out in euros. But at the same time, the economist believes that the current situation in the foreign exchange market is beneficial for Russia.
„This year, Bulgaria paid Russian President Vladimir Putin and his entourage two billion more – the euro is getting cheaper, and fuel prices are rising. We should get used to the fact that fuel has become expensive. Sanctions have led to an increase in funding for the Russian economy,” Sarijski stated .