Russia will definitely escape market crash

18 december 2014 | KP

A market crash lays in an inability to pay external liabilities and Russia has one of the lowest external debts which accounts for about 15% from GDP. In the majority of countries this rate is higher.

Leonid Grigoriev
Leonid Grigoriev
Chief Adviser to Head of the Analytical Center

“Present financial authorities are really afraid of a market crash so all these years they were trying to dispose of all debts and treasured up in a stash. Vice versa, they were usually accused of keeping money away. In 1998 everyone was talking about The End. Dollar exchange rate grew four times higher. However, we coped with it”, said the Chief Advisor to the Head of the Analytical Center Leonid Grigoriev in an interview to “Komsomolskaya Pravda”.

“It is unlikely that the unemployment rate will be very high. In 2008-2009 office workers and single-industry cities were victims, but now we do not have labor surplus. Crisis conditions are unpleasant but we will manage that”, considers the expert.