Russia Vulnerable Should Global Financial Crisis Strike Again - Expert
MOSCOW. June 29 (Interfax) - A repetition of the global financial crisis is unlikely, but should it occur again, Russia will find itself among the most vulnerable countries, said experts of the Russian Security Council.
"Unfortunately, pre-crisis processes resurfaced again. But the likelihood of an economic slump is not high for the upcoming couple of years. We don't think it is higher than 15%-20%," Alexander Dynkin, the director of the Russian Academy of Sciences Institute of World Economy and International Relations, told the Russia Security Council's Scientific Board in Moscow on Tuesday.
Dynkin is the deputy head of the Global Problems and International Security Section of the Russian Security Council's Scientific Board.
"If a global economic crisis strikes again, Russia will be among the most vulnerable states, as in 2008-09," he said.
"In this case, demand and prices for oil, gas and metal on which more than half of our budget depends, would drop sharply. This would immediately create problems in fulfilling social obligations," the expert said.
Keyword Tags:
