Russia in Foreign Media

Is Russia's Economic Crisis Over?

12:02 02/02/2010

Russia's economy is now hostage to potential global growth. It is clear why: the state budget depends almost totally on energy prices. Now that oil price has reached $80 per barrel, Russia's central bank can start buying foreign currency again.

But, outside Russia, no responsible economists can even begin to say whether the crisis is truly over. They know that relatively calm markets do not mean that strong economic growth is around the corner.

By Irina Yasina

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/valdai_foreign_media/20100202/157749951.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/valdai_foreign_media/20100202/157749951.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Is Russia's Economic Crisis Over?  </strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">12:02</span> <span style="color:#5590bf; padding-right:7px;">02/02/2010</span> <span style="font-size:12px;">Russia's economy is now hostage to potential global growth. It is clear why: the state budget depends almost totally on energy prices. Now that oil price has reached $80 per barrel, Russia's central bank can start buying foreign currency again.<a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/valdai_foreign_media/20100202/157749951.html" title="Is Russia's Economic Crisis Over?  ">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Is Russia's Economic Crisis Over?

12:02 02/02/2010 Russia's economy is now hostage to potential global growth. It is clear why: the state budget depends almost totally on energy prices. Now that oil price has reached $80 per barrel, Russia's central bank can start buying foreign currency again.>>

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