Russian Economy Can Develop Normally At Oil Price of $80/barrel — Ministry
MOSCOW. Sept 4 (Interfax) - The Economic Development Ministry believes that the Russian economy could experience normal development at an oil price of $80 a barrel or more, Deputy Economic Development Minister Andrei Klepach said while presenting at hearings at the Public Chamber of Russia.
"The main risks are not associated with the global economic risks that are so often discussed. If the oil price falls to $60, the chances that it will stay there are not very high. A price from $80 and up is normal for the development of our economy," he said during a roundtable dedicated to new economic growth models.
According to Klepach, "the chief risks are associated with our internal problems, with the inability to effectively respond to challenges that emerge in the global economy, to effectively solve the problems that have accumulated, to implement the programs and priorities that have been voiced."
"Our chronic illness is the discrepancy between plans and reforms," Klepach said.
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MOSCOW. Sept 4 (Interfax) - The Economic Development Ministry believes that the Russian economy could experience normal development at an oil price of $80 a barrel or more, Deputy Economic Development Minister Andrei Klepach said while presenting at hearings at the Public Chamber of Russia.
"The main risks are not associated with the global economic risks that are so often discussed. If the oil price falls to $60, the chances that it will stay there are not very high. A price from $80 and up is normal for the development of our economy," he said during a roundtable dedicated to new economic growth models.
According to Klepach, "the chief risks are associated with our internal problems, with the inability to effectively respond to challenges that emerge in the global economy, to effectively solve the problems that have accumulated, to implement the programs and priorities that have been voiced."
"Our chronic illness is the discrepancy between plans and reforms," Klepach said.