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Preconditions for global debt crisis in place — Russia’s First Deputy PM

"The debt crisis mirrors developments in the global foreign trade. Huge accumulated debts are here to stay. If everything is normal and stable with the global trade, then it would most probably be normal with debts also," Andrey Belousov said

MOSCOW, October 20. /TASS/. Preconditions for the debt crisis in the world have already been observed, First Deputy Prime Minister Andrey Belousov said at the Made in Russia forum.

"The debt crisis mirrors developments in the global foreign trade. Huge accumulated debts are here to stay. If everything is normal and stable with the global trade, then it would most probably be normal with debts also. Since developments in trade are absolutely abnormal, the debt crisis is in our face. When the global recession and global problems are spoken about now, this is related in the first place to this foreign trade trigger to continue in accumulated debts, and then everything will fall under the domino principle," the official said.

The Made in Russia Forum organized by the Russian Export Center is being held in Moscow from October 20 to 22. TASS is the general information partner of the event.