Russia's Former Finance Minister Alexey Kudrin© Sergey Savostiyanov/TASS
Russia’s Former Finance Minister Alexey Kudrin © Sergey Savostiyanov/TASS


Russian economy expected to come out of crisis in the fourth quarter of 2014, Former Finance Minister Alexey Kudrin said in an interview with Russian television channel Rossiya-24 on Thursday.

“April and May were the worst this year. I think that June will be one of the worst as well. And I have no certainty that July and August will be better. The bad phase of our crisis will last for the beginning of the third quarter. There are expectations, that the fourth quarter will be better,” Kudrin said.

Earlier, Finance Minister Anton Siluanov said that the Russian financial sector is recovering, and that the general economic recovery expected in late 2015 – early 2016. We have no doubt that the economic recovery will follow the financial sector. We hope that this will happen by the end of this or the beginning of the next year,” Siluanov said.