US anti-missile systems in Eastern Europe violate INF Treaty - Russian foreign ministryRussian Politics & Diplomacy April 29, 20:35
Moscow police say 250 people take part in protest rallyWorld April 29, 16:29
Abe plans to continue dialogue with Putin to solve global issuesWorld April 29, 14:50
Moscow is ready to cooperate with Washington on Syria — LavrovRussian Politics & Diplomacy April 29, 12:24
Diplomat calls US’ allegations about isolation of Russia in UN 'strange'Russian Politics & Diplomacy April 28, 20:58
Experts say Russian hackers strongly demonized in USRussian Politics & Diplomacy April 28, 20:35
Ferrari drivers clock best time in Practice Two of Russia F1 GP in SochiSport April 28, 19:54
Red Bull’s advisor Marko says Kvyat to possibly remain with Toro Rosso next yearSport April 28, 19:16
Pope Francis blesses pregnant TASS correspondent en route to EgyptWorld April 28, 18:55
WASHINGTON, September 25 (Itar-Tass) — Economic growth rates in Russia will amount to four percent in the next few years, Russian Deputy Prime Minister and Minister of Finance Alexei Kudrin said on Sunday.
Kurdin in currently in Washington to attend a traditional session of governing bodies of the World Bank and the International Monetary Fund (IMF).
According to Kudrin, “we all are in for a lost decade” over the current situation in the global economy. Primarily, in his words, it is applicable to “western countries, which will take hard years to re-orient to new factors, to give up their pre-crisis consumption models with low investment levels.”
“They have big debts, they will shrink consumption and debts, which will bring down their economic growth factors,” he said.
As concerns Russia, he noted, the situation is somewhat different. “We also need to attune our growth factors, but our economy has more reserves from the point of view of structural reforms and possibilities to attract investments,” he said. “That is why it will take us less time to travel this way, three or four years. And in this period, our growth rates will be roughly equal to the average across the globe, i.e. about four percent.”
“It will not be a lost decade for us. I think it will be rather a decade of gain,” Kudrin stressed.
Touching on factor that might have a negative effect on the Russian economy, Kudrin said, “lowering of world oil process to about 60 U.S. dollars per barrel in the current situation may be fraught with a zero growth or even with slight slump.” However he said he was sure that oil prices will not go down lower than 90-100 U.S. dollars per barrel in the next few years. Although, he admitted a “possibility of a short-term price slump in conditions of the current market turmoil.” But “we don’t expect a recession in the Russian economy,” he stressed.