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Kudrin: World economy faces risk of another recession

07. April 2010. | 08:58

Source: Itar-Tass

There are still high risks for a second recession in the world economy, Russia’s Deputy Prime Minister, Finance Minister Alexei Kudrin said on Tuesday.

There are still high risks for a second recession in the world economy, Russia’s Deputy Prime Minister, Finance Minister Alexei Kudrin said on Tuesday.

The scenario of the world economies’ future development may be clear, when the governments begin to curtail fiscal support for the national economies, he told the XI international conference on the development of the economy and society.

“Currently, no changes of this kind are observed,” the minister said. “This is seen in the low rates set by the central banks.”

“The first positive changes emerging in the economies of Russia and other countries are not stable yet,” Kudrin said.

Progress “depends on the governments and their political popularity,” he said “as well as on their ability to undertake unpopular measures.”

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