Interview with development economist: “Russia’s economy is safe from sanctions”
According to Beata Javorcik, the European Bank for Reconstruction and Development expects Russia’s GDP to fall by three percent.
(Photo: AP)
Ms. Javorcik, the EBRD was founded in 1991 with the aim of helping Eastern Europe to rebuild its economy. How have you approached this challenge since then?
We see our task in promoting the economic transition. In the 1990s, this primarily meant privatization. But of course a lot has changed since then, including us. We realized that the market is not always the best solution. Sometimes government intervention is needed. Today we focus on a different interface: the transition to a competitive, green and integrated economy.
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