Russia has not yet seen the peak of the global financial crisis, although the most acute period has passed, a presidential economic aided said on Saturday.

Arkady Dvorkovich told journalists, "I agree with the assessment made by Ulyukaev [first deputy chairman of Russia`s Central Bank] that the worst of the crisis is over, but it does not mean that we have reached the bottom."

He also said that the restructuring of debt held by Russian banks and companies could be completed by the middle of summer or towards the coming fall.

"Nothing is preventing the final process of restructuring process finally from being completed towards the middle of summer, but the fall is a more realistic time," Dvorkovich said, adding that this would be an indication that the crisis had hit its peak.
sections: Economics