Moldova’s president initiates process of national reconciliation over TransnistriaWorld March 01, 21:14
Russian Foreign Ministry: Any sanctions against Syria to weaken anti-terrorist frontRussian Politics & Diplomacy March 01, 21:05
Russia rejects Al Jazeera’s report on alleged cooperation with terrorists in AfghanistanRussian Politics & Diplomacy March 01, 20:04
Moldova’s government recalls ambassador to RussiaWorld March 01, 20:02
OSCE envoy says Contact Group discussed recognition of DPR, LPR documents by MoscowWorld March 01, 20:00
Russian senator believes European Parliament’s resolutions on Syria not to solve crisisRussian Politics & Diplomacy March 01, 18:56
Dire Straits Experience to kick off their 2017 world tour in RussiaSociety & Culture March 01, 18:48
Volkswagen to recall 42 Lamborghini cars in Russia due to flame outbreak possibilityBusiness & Economy March 01, 18:46
Russian vice-premier discusses political, military-technical cooperation with EgyptRussian Politics & Diplomacy March 01, 18:41
MOSCOW, January 15. /TASS/. The World Bank recommends Russia to follow the Greek scenario of overcoming the crisis. The key goal of the Russian government is to guarantee macroeconomic stability, including stability in the financial sector, WB lead economist for Russia Birgit Hansl told TASS on Thursday.
The economist mentioned Greece as an instance. “The times of crisis are always good enough for implementing structural reforms. They make governments think hard how to strengthen and restructure the economy. Many countries used the previous experience of the global financial crisis as an opportunity for structural reforms,” Hansl said. So, for example, Greece had to decide on a salary cut in the public sector on the back of social protests.
Speaking about the potential drop in oil prices, Russia will have to bring the expenditure budget into compliance, she said. “Revenues falling at a certain period of time require a change in the expenditure strategy. Otherwise, it’s necessary to increase the public debt and thus the budget deficit,” she said.