Russia May Not Be Able To Execute 2002 Budget Because Of Oil Crisis

The government is busy analysing the effect the world economic crisis may have on Russian economy and on the country's 2002 budget, Vice Premier and Finance Minister Alexei Kudrin told the parliament's lower house this morning. The very fact that Kudrin decided to talk to the leaders of State Duma factions proves that the aforementioned crisis may indeed have grave consequences for Russian economy. Addressing deputies, the vice premier gave an account of the recent conference in Ottawa, Canada, which gathered finance ministers from 20 developed countries and officials from the World Bank and the International Monetary Fund. "The prospects are that the world economic situation may deteriorate," said Kudrin, adding that the pessimistic prognosis prompted the Russian government to start contemplating the ways of protecting Russian economy.

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