Elvira Nabiullina said that the government expected an average ruble exchange rate of 31 or 32 to the U.S. dollar during 2009.
"If the dollar weakens against the euro, the ruble may be more expensive," the minister said during a meeting with President Dmitry Medvedev.
The minister also said investment will grow by 1.4% and real income by 2.5%.
The figures are based on Russian macroeconomic forecasts for 2009-2010 that assume an average oil price of $50 per barrel.
Nabiullina said natural gas tariffs for domestic consumers in Russia in 2009 would be increased on a quarterly basis.
Tariffs will rise "5% in the first quarter, 7% in the second quarter, 7% in the third quarter, and 6.2% in the fourth quarter," she said.
The forecasts for 2009 have been revised following changes in expectations for the global economy and oil prices, as well as preliminary results for Russia's economic development over the past 11 months, she said.
In November, the deputy economic development minister, Andrei Klepach, said Russia's GDP was expected to grow 3-3.5% in 2009.
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We have witnessed the total defeat of western Ukraine, Western nationalists and the West in general, which made the unfortunate decision to support the anti-government activity. They failed to realize that the collapse of Yanukovych means the collapse of Ukrainian unity. They set fire to their own home and planted a time bomb under Ukraine’s territorial integrity.