The dominance of large state institutions is one of the major risks on the Russian financial market, said the head of the audit chamber (SP) of the Russian Federation Alexey Kudrin. According to him, Russia is located at 120 place in the world for the stability of the financial system.”Stability in the financial sector is very risky, many risks. One of the reasons for our low ranking is the dominance of large state institutions”,— said Kudrin, speaking in the Federation Council (quoted by “RIA Novosti”).Among other risks, market stability, he called the growing U.S. debt, since emerging markets are very connected with them. “US debt since the beginning of the year increased from 108% to 123% of GDP. For the US, it is not yet critical, but if the trend is not significantly changed, then it will be critical for the dollar and for the world market”,— said the head of the SP. According to Mr. Kudrin, at the beginning of 2020, total world debt has reached 322% of world GDP and 2008-2009 increased by 40%.The head of the accounts chamber Alexey Kudrin said that Russia’s economy is now in a state of stagnation. He recalled that during the 2008-2009 crisis, the government acted faster, and therefore successfully deal with it.Economic forecasts read in the material “Kommersant” “the world Bank appreciates the anti-crisis measures in Russia.”
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