Nabiullina says crisis is not over

The head of the Central Bank of the Russian Federation, Elvira Nabiullina, believes it is too early to say that the economy has overcome the worst of the crisis.

According to the head of the Central Bank, oil prices will remain one and a half times lower than over the past five years. It’s not worth thinking that exports will extend Russia's economy. 

"Prices for other traditional Russian goods exports are dropping, so it’s not worth thinking that exports will extend our economy. The economy continues to lose collecting on exports, at least $150 billion to $170 billion, according to our estimates, in comparison with the accepted level and while paying for foreign debt," TASS cited Nabiullina as saying.

Russia’s banking industry is showing stability and its profit may be 100 billion rubles in 2015, Nabiullina predicts.