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New wave of crisis may affect Russia considerably – Nabiullina

October 05, 2011, 14:11 UTC+3
Nabiullina said that the world risks had aggravated; they are risks referring to worsening state of the world economy and bigger capital outflow
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MOSCOW, October 5 (Itar-Tass) —— A new wave of the world economic crisis or protracted stagnation may affect Russia considerably, Russia’s Minister of Economic Development Elvira Nabiullina said on Wednesday.

“A new wave of the world crisis, should it happen, or protracted stagnation in developed countries – we believe it to be more probable – will affect us considerably,” she said.

Nabiullina said that the world risks had aggravated; they are risks referring to worsening state of the world economy and bigger capital outflow. Europe’s debt problems may affect greatly the international financial system. A probability of renewing recession in developed countries has grown, too, she said. However, if the second wave of the crisis does happen, “we believe” that the crisis will not be as deep as it was in 2008-2009.

“The crisis of 2008-2009, like the present disturbance in financial markets, has shown that Russia is subject to major risks,” Nabiullina said.

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