EU summit participants show unity on anti-Russian sanctions — MerkelWorld June 23, 4:11
Moldovan parliament refuses to hold no confidence vote in Foreign Minister Andrei GalburWorld June 23, 2:03
Google.ru’s temporary ban should serve as reminder to others — lawmakerBusiness & Economy June 23, 1:59
Russian lawmaker slams EU’s decision to extend sanctions on Moscow as absurdRussian Politics & Diplomacy June 23, 0:32
IOC spokesperson confirms Bach’s words about possible sanctions on RussiaSport June 22, 23:27
Germany-Chile Confederations Cup encounter in Kazan ends with 1-1 drawSport June 22, 23:12
Putin praises Moscow International Film FestivalSociety & Culture June 22, 21:49
Russian football team getting ready for game with MexicoSport June 22, 21:38
EU agrees to extend sanctions against RussiaWorld June 22, 21:25
MOSCOW, April 18 (Itar-Tass) – Russia’s former finance minister Alexei Kudrin sees no risk of a recession in the Russian economy this year.
“I believe that a deep recession can be avoided,” Kudrin told the media on the sidelines of Sberbank’s forum Russia-2013.
He believes Russia is faced with some risks related with Europe, with falling economic growth rates and with the United States.
“That will influence us, of course,” he said.
Kudrin believes that this year will see certain growth, although a small one, about three percent.
“We should look into next year on the basis of this year’s results,” Kudrin said.
In his opinion, high inflation is one of the worst problems.
“It blocks low interest rates on loans to the real sector of the economy,” Kudrin said. A year ago inflation measured 3.7 percent against the previous year. Currently it runs at 7 percent.
“This is evidence of a poor monetary and credit policy and sometimes inconsistent actions by our state,” the former finance minster said.
At the same time Kudrin pointed out that there was no need for injecting more cash into the economy, because that would worsen the inflation situation still further.