23 November 2011, Wednesday, 16:53

Industry and trade will save Bashkiria from the “second wave” of the crisis

author: Alfia Sharafutdinova

The repetition of the events of 2008 don't threaten Russia but certain negative tendencies in economics can't be avoided, as the authoritative Russian economists Michael Khazin and Oleg Grigoriev from Moscow and their colleague Rustam Davletbaev from Ufa told at today's press-conference in Ufa.

According to the experts the present crisis in the West has systematic character and will undoubtedly  affect the Russian economics but at that the situation for Russia will be softer.

“I have no idea whether we will face the crisis or not but in any way the general tendency is clear enough: the world is entering the epoch of stagflation. What does it mean? The countries will print money, not backed with anything at that, throwing this money into economics and it means inflation. For Russia this inflation means that oil prices won't drop, at least too low, as well as the prices for metals. Those dollars and euro, if euro remains alive, which we are paid for oil and gas, will be devalued but at the same time it will be rather mild variant, not the shocking one, what has happened in 2008. We can figure on such way” -Oleg Grigoriev believes.

As for Bashkortostan, he called our Republic one of few stable regions from the point of view of social-economic development. He called high index of industrial production and the availability of own oil reserves the main advantages of the Republic, able to become the airbags for the citizens RB.

In opinion of Rustam Davletbaev trade surplus, well-developing agriculture and low level of crediting can be added to this list of advantages. “This is a weighty plus in such times” — the expert said.