Putin sees elements of stabilization world economy, not expecting crisis

World Map Showing Continents, Greens, Browns, Ice

(Interfax – NOVO-OGAREVO, September 11, 2013) Russian President Vladimir Putin said he saw elements of stabilization in the world economy and that he was not expecting a crisis.

This is the first time the budget is being drafted by the programming principle, Putin said at a meeting on budget projections for the period 2014-2016.

“The second specific aspect is that we are of course again at a stage of change in the international economic situation, which one way or another affects us. Thank God this isn’t a crisis yet, and we’ll be hoping it won’t evolve into one, because we can after all note that the economies in North America, in Asia and in Europe are stabilizing, and ultimately this will affect us as parts of the world economy,” Putin said.

But “we must give sober assessments and adjust our approaches and expenditures in keeping with the forecast for economic growth which is emerging at a given moment in time,” he said.