Belousov called Russia an island of stability even under sanctions

Russia is an island of stability against the background of uncertainty observed in the world. This opinion was expressed to journalists by First Deputy Prime Minister Andrei Belousov on November 18 at the APEC forum in Thailand.

“Russia, no matter how strange it may seem in the face of sanctions, is now an island of stability – it is easier to predict events and their development here than in the world,” the Deputy Prime Minister noted.

According to Belousov, the global recession will have a minimal impact on Russia’s foreign trade.

“As for the impact of the global recession on foreign trade, the restrictions there are now mainly of a logistical nature. The restrictions associated with the calculations – there, I think, the impact will be minimal, ”he said.

The Deputy Prime Minister noted that the economies of European countries will face much greater difficulties, where the uncertainty of the situation in the trade markets creates inconvenience for manufacturers who cannot make long-term plans.

According to Belousov, high inflation is added to this, with the need to tighten monetary and fiscal policies, as well as the problem of debts.

“This combination of factors poses a very big threat to the stability of the economy, primarily in the countries of Southern Europe, and, in general, already in Germany. In this regard, everything is much more stable in our country,” the Deputy Prime Minister added.

Earlier, on November 15, the head of the Central Bank (CB) of Russia, Elvira Nabiullina, assessed the state of the Russian economy. She noted that the refusal of international financial institutions to work with Russia is unpleasant, but the Russian market will not be destroyed.

On October 27, Russian President Vladimir Putin, during a speech at the Valdai discussion club, said that anti-Russian sanctions showed that Russia is much stronger than the country itself thought.

Before that, on September 8, Russian Prime Minister Mikhail Mishustin noted that unprecedented restrictions against Russia could not undermine its financial stability. Mishustin noted that Russia will come out of the situation with sanctions even stronger and more prepared.

Before that, on August 31, the Ministry of Economic Development prepared a review of the current situation in the Russian economy. The situation on the labor market in Russia remains stable, the unemployment rate is at historical lows for the third month in a row, the ministry concluded.

Western countries have tightened sanctions against Russia after the start of the Russian operation to protect civilians in the Donbass. However, this turned into a crisis in the economies of the European countries themselves, which faced an unprecedented rise in gas and electricity prices, including due to the policy of reducing energy imports from Russia.

For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.

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