OREANDA-NEWS In Russia, there are no prerequisites for a repeat of the default, as in August 1998. Such an opinion in an interview NEWS.ru The former deputy Valery Yazev, who was at that time in the State Duma Committee on Industry, Construction, Transport and Energy, expressed his opinion.

"The level of Russia's external debt in comparison with its GDP is insignificant, and in general it is small relative to the level of public debt of other countries. And the state of the economy today cannot be compared with the state of affairs in 1998," the expert assessed the situation. According to him, at that time, the most severe economic crisis broke out for "much more fundamental" reasons and it happened not after, but before the default was declared, in conditions when the country was "suffocating" without money and an army."

As Yazev explained, since then, the Russian authorities, among other things, have learned to balance budget revenues and expenditures without inflating the latter excessively. He believes that since the 2000s, more realistic budgets have been adopted, and the regions have gained greater independence in this area.

Speaking about the current situation in the Russian economy, the ex-deputy noted that there are no fundamental reasons for the growth of the national currency rate, because "in order for the ruble to strengthen, it is necessary to increase the inflow of currency into the country." The authorities need to "increase or at least prevent the fall of real incomes of the population," doing this in conditions where, on the one hand, the stability of the financial system is ensured, and on the other hand, the structural restructuring of the economy.