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Putin says Russia well prepared for new economic crisis

(Xinhua)

08:42, August 17, 2012

MOSCOW, Aug. 16 (Xinhua) -- Russia could withstand a new global economic crisis, President Vladimir Putin said Thursday.

"We should hope for the best but be ready for the worst," Putin told a meeting with regional ombudsmen.

He described the economic situation in the United States and Europe as disturbing.

"All this causes a certain anxiety. Let's hope all these worries won't result in a full-scale crisis," Putin said.

He said the Russian government had started to work on anti-crisis measures in 2011 and reserved funds for a worst-case scenario.

"We agreed on quite a large sum of the 2013 budget as the government's operational reserve to respond efficiently and energetically to an economic crisis, should it happen," Putin said.

The president claimed the Russian economy was in a good shape. "We are sure that, if the crisis comes, we can withstand it effectively," he said.

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