Russia's financial sector is in a complicated but controllable situation, President Dmitry Medvedev said in a TV interview Sunday, pledging to keep the ruble's exchange rates stable, Xinhua reported.
"Of course, we should have in mind a rather difficult scenario. But this does not mean that the situation here is hopeless, or extremely alarming...Generally, the situation is sufficiently clear and controllable," Medvedev said on the Vesti TV channel.
However, certain steps to move the economy out of crisis should be taken not only this year, but next year as well, the Russian president said.
He said reduced income and increasing payments in currency amid the global economic downturn had caused the devaluation of the ruble since the second half of last year, corresponding to the country's economic performance.
Medvedev pledged that the central bank will closely watch all currency parameters and prevent any sharp plunges in the ruble's exchange rate, which has dropped by some 35 percent since last August.
Russia's gross domestic product grew 5.6 percent in 2008, the lowest since 2002. The International Monetary Fund has forecast that the Russian economy will contract 0.7 percent in 2009 but grow 1.3 percent in 2010.
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