Cbank: Russia’s economic situation more manageable than in’08

MOSCOW, Jan 14 (PRIME) -- The current situation in Russia’s economy is far more manageable than the 2008 crisis First Central Bank Deputy Chairwoman Ksenia Yudayeva said Wednesday at a forum.

“I think this time we can definitely say that we have learned the lessons of the previous situation, and the current situation has turned out to be far more manageable under such a significant weakening of the exchange rate,” Yudayeva said.

Russia’s banking system is also in a good condition now, and is able to cope with the difficulties that the year 2015 is to offer. “The banks are generally in a good shape and will survive this year as we have been gradually increasing their requirements,” she said.

German Gref, CEO of the country’s biggest lender Sberbank, said that the country’s banking system will face a “really high-scale” crisis if oil prices remain at U.S. $43-45 per barrel, and they will have to create 3 trillion ruble reserves against losses in 2015.

(64.8425 rubles – U.S. $1)

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