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Russian economy in good shape, ready for crisis, should it occur - Putin

August 16, 2012, 19:12 UTC+3
“We are certain that in case of a crisis we have everything handy to resist it effectively,” he said
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MOSCOW, August 16 (Itar-Tass) — The Russian economy is prepared for a crisis, should it occur, President Vladimir Putin said at a meeting with regional ombudsmen on Thursday.

The human rights commissioners in Russian regions put to the president some questions about social affairs and the current economic situation. Tatyana Merzlyakova, from the Sverdlovsk Region, asked Putin about the risk of a crisis in Russia.

Putin replied that the situation in the world and European economies was very complicated. In the United States, the engine of the world economy, the state of affairs looks slightly better, but macroeconomic parameters, which are essential to the economy’s stability, are no better than in Europe. The state debt there is 104 percent,” Putin said. Also, he added that the financial system of that country is overburdened by mortgage loans issued against government guarantees.

“All this causes certain alarm. The latest reports say economic development rates in China have slowed down slightly. China is one of the greatest consumers. True, these are alarming signs. Let us hope that all these concerns will not develop into a full-scale crisis,” Putin said. “Let us hope for the best, but get prepared for the worst.”

He recalled that in 2011 the government had started drafting anti-crisis measures beforehand in case of an unfavorable trend in the economy.

“We are certain that in case of a crisis we have everything handy to resist it effectively,” he said.



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