MOSCOW, Sept 7 (Reuters) - The Russian rouble must weaken in the short term to help Russia’s key raw materials exporters continue to invest, Russian mining tycoon Vladimir Potanin told Vedomosti newspaper.
“It is in the interests of the economy and of export-focused enterprises,” Potanin said in remarks published on Monday. “It will help them cut costs until they can resume financing modernisation in a acceptable way.”
“The main suppliers of export revenue have sharply cut back investment. We can live with that for a while. But then, within a very short time, the cycle has to be renewed. Otherwise there will be a collapse.”
Potanin's Norilsk Nickel GMKN.MM has reported falling output this year and the company stopped paying dividends last year to preserve investment cash.
Russia’s central bank maintains a soft peg on the rouble against a euro-dollar basket but is moving to let it float in the coming years. (Writing by Melissa Akin; editing by Chris Pizzey)
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