High oil prices to preserve Kazakhstan, Russia from crisis
Azerbaijan, Baku, Nov. 30 / Trend E. Kosolapova/
Russia and Kazakhstan are protected from the crisis due to high oil prices, Head of Russian Sberbank German Gref said, Novosti-Kazakhstan reported.
"I do not see any fatal forecast for us next year," Gref said at briefing in Astana on Wednesday. "The situation will be complicated, but our economy preserved with high oil price."
Gref said that Russia and Kazakhstan are directly connected with the global financial markets. Thus, the situation in Europe strongly influences Russia and Kazakhstan and can affect GDP growth.
"The prices for some export position, particularly for metals, have already greatly decreased and the forecast of their future value is not very reassuring" Gref said.
Meanwhile, the key price for Kazakhstan and Russia - the oil price shows no signs of significant decline.
"Key indicators show low likelihood for oil price decline," Gref added.
Sberbank is the largest credit institution in Russia and CIS. The founder and main shareholder of Sberbank is the Central Bank of the Russian Federation.