Russia will gradually scrap anti-crisis measures by 2015, Russian Finance Minister Alexei Kudrin said at an annual business forum in Davos, Switzerland, on Friday.

“Russia will exit the crisis in late 2012, and we will phase out [anti-crisis] measures … by 2015,” Kudrin said on the sidelines of the World Economic Forum.

Kudrin, viewed in the West as a key liberal, said last week the fast growth maintained mainly on the back of high energy prices exposed Russia to additional risks after the country experienced a financial crisis in 2008. For the first time in a decade, Russia posted a budget deficit in 2009.

He told reporters in Davos the Russian government had set itself the target of reducing the federal budget deficit to 1%-2% of GDP within the next five years from 5.9% of GDP in 2009.

Kudrin also said earlier budget austerity was a must for Russia.

“We do not have the scope to increase spending,” he said.

DAVOS, January 29 (RIA Novosti)

* * *

Experts to Analyse Anti—crisis Measures in Automotive Industry

Some European countries have recently taken measures to support automotive industry. They are countries such as France, Germany, Italy, Spain, Portugal and Sweden where automotive sector represents the backbone of their national industry and their economy as a whole. The measures to support automotive industry have also been included in the European Economic Recovery Plan presented by the European Commission last November.

In this context the group of experts set up by the Minister of Industry and Trade, Martin Říman, met for the first time today to analyse the anti—crisis measures that are being adopted by other European countries in the vehicle production sector. The group is to come up with concrete proposal for reviving the local automotive industry and the related fields. One of the topical tasks is to support the Czech Presidency of the European Union in taking care of this agenda at EU level

Ministry of Industry and Trade of the Czech Republic

* * *

Key dates in Greece’s debt crisis