Russia is facing another default?

Finansy26-12-2006 Finance Minister Alexei Kudrin said that in 2010, together with a decrease in oil revenues will devaluation of the ruble. The minister assured that the depreciation will take place at a moderate pace. Director, Center for Environmental and Economic Research of the Academy of National Economy Minister Viktor Danilov - Danilyan main reason for the devaluation of national currency considers deformation of the real sector of the Russian economy. According to Danilov - Danilyan "Pravde.Ru, if the depreciation will take place gradually, the process will go more - less painful. Ill-conceived steps can lead to a repetition of the 1998 default. "The fall in oil prices is inevitable, as the dynamics of pricing - a process of cyclical and recessions are alternated with the ups, - Viktor Danilov - Danilyan. - Now begins the phase of recession. In any case, the devaluation will lead to falling living standards. " Trying to stop the devaluation of late. Today we can only talk about how to slow down the process. To this end, according to Danilov - Danilyan, you need to improve conditions for the existence of small and medium-sized businesses in Russia. To work in this direction must be shown a very tough political will. This risk, which in our country no one likes.