Rus News Journal

Kudrin: Rise in prices for oil - a temporary phenomenon

On Tuesday on the expanded board of Ministry of economic development and trade of the Russian Federation the head of the Ministry of Finance Alexey Kudrin has made some important statements.

In - the first, the Minister of Finance has expressed opinion that lifting of world stock markets and rise in prices for oil is a temporary phenomenon. And soon we are expected by new correction and new decrease in share indexes. We will remind that on Monday of the price for oil in the world markets have raised, and today (for the first time for 4 months) the price of oil of the OPEC has overcome a lath in 50 dollars for barrel.

Calls of world crisis are saved. Some lifting of stock markets and rise in prices for oil should not weaken us. It, most likely, time improvement, and taking into account the basic indicators of the American and world economy will be in the near future new correction and new decrease in share indexes - Kudrin has told on Tuesday.

Besides, the head of the Ministry of Finance has predicted the second wave of problems which will cover the Russian banks. It will occur from - for non-returns of credits the enterprises as demand for the goods has considerably decreased, warehouses are hammered by production, and firms have nothing to repay debts under loans.

We expect the second wave of problems, including in bank system, in connection with a non-return of credits the enterprises - quotes Kudrin of RIA News .