The Crisis

This allowed us to derive foreign exchange reserves of the country to third place in the world, begin to implement national projects, federal government programs, to repay most external debt and well prepared for the crisis. These measures have significantly increased the international prestige of Russia and made it attractive for foreign capital. It is from these reserves, which became a kind of "safety cushion", banks and large companies are now receiving the missing cash. And if in 1998 the government only watched helplessly as the currency fell, but now the power to decide how much you can reduce the ruble and how to maintain economy. I want to believe that a huge stabilization fund will help Russia emerge from the crisis with minimal losses, while good cards and all and plus. But there is another aspect of the problem. High prices for natural resources brought to the occasional role of all other activities. Well, why, tell me something to do when the oil price soared to heaven, and life and been so successful? In this prosperity we have somehow forgotten about the serious problems in Russia economy and industry. And, resting on an oil cushion indefinitely postponed reforms. Now we will be forced to get off the oil needle, to think about reforming our economy, improve production, to introduce innovative technologies to improve productivity. Most likely due to lower oil prices the economy will effect recovery. For cheaper petrol and gas. And this is good for manufacturing particularly energy-intensive industries that consume oil and oil products for the chemical industry, which can receive additional income due to lower costs. Fell as freight and passenger cars, machines, equipment.