ST. PETERSBURG/MOSCOW, June 6 (RIA Novosti) - Russia's finance minister said on Saturday that the process of restoring confidence in the ruble following its controlled devaluation could take 3-4 years.
"After such a crisis, we need to restore confidence in our currency. I think this will take 3-4 years," Alexei Kudrin, who is also a deputy prime minister, told the Business FM radio.
He said that a great deal of work was needed to improve macroeconomic indicators and the financial system's legal base, if the ruble is to become a reserve currency.
"For it to be a reserve currency requires a stable balance of payments...low budget deficit, low inflation and only then will it manage," he said.
