German Gref, head of Russia’s Sberbank, said in Khabarovsk today that Russia was one of the best macro-economies of the world and had no risk of a market crash, RIA Novosti reports.
He noted that government debt amounted to 10% of GDP, compared with over 100% in some European states. The Central Bank of Russia has over $500 billion of gold and currency reserves, so the rate of the ruble was not at risk, although the rate may change.
Crisis tendencies were provoked by aggravations in China, but no collapses should be expected, Gref concluded.
