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Russia Won’t Have Crisis in 2008, Economic Development Minister Forecasted

February 12, 2008 | www.kommersant.com

Russia will have no crisis in 2008 all instability of foreign markets notwithstanding, said the RF Economic Development Minister Elvira Nabiullina.
“We have all conditions to continue the economic growth. I don’t see any grounds to apprehend crisis effects in Russia’s economy in 2008,” Nabiullina told the reporters Tuesday during the 2nd Russia’s-Indian Forum on Trade and Investments.

This year’s highlights, the minister made clear, are innovation advance, containing inflation within the target parameters (8.5 percent) and development of financial markets.

Asked about government’s investments in economy, Nabiullina emphasized the need to set up small innovation ventures. “Nowadays, it is vital to ensure conditions for creating new and small enterprises that will be the basis for innovative economy,” the minister pointed out.


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