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Duma speaker: Russia better prepared for crisis than many other countries

February 12, 13:53 UTC+3 MOSCOW
The very fact that Russia has considerable reserves "widens the room for maneuver and increases stability," Sergey Naryshkin said
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Russia's State Duma Speaker Sergey Naryshkin

Russia's State Duma Speaker Sergey Naryshkin

© Alexandr Shalgin/Russia's parliament press service/TASS

MOSCOW, February 12. /TASS/. Russia is more prepared for crisis than many other countries thanks to accumulated reserves, State Duma Speaker Sergey Naryshkin said on Friday.

"Experts and media are now exercising their ability to calculate whether the economy has hit the bottom or not, when will our financial reserves run out, look for parallels between the current situation and economic crises of 2008 and 1998," Naryshkin told parliamentary hearings on measures to facilitate Russia’s economic growth.

"I would like to stress that every crisis is always very different from previous crises, and reserves were in fact accumulated for the purpose of overcoming such situations. That is why Russia is prepared and protected better than many other countries that are also sensible to dynamics at fuel markets," he noted. The very fact that Russia has considerable reserves "widens the room for maneuver and increases stability," he concluded.

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