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Russian economy must be prepared for any external shocks - Putin

April 11, 2012, 13:29 UTC+3
Our basic task is to build a new economy
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MOSCOW, April 11 (Itar-Tass) —— The Russian economy must grow qualitatively and be prepared for any external shocks.

“Our basic task is to build a new economy, stable, and capable of demonstrating qualitative growth in the context of firm competition,” Prime Minister Vladimir Putin told the State Duma on Wednesday.

“We must be prepared for any external shocks,” he said. In his opinion the risk of their replay is rather high.

“The world has plunged into an era of turbulence. Besides, a new wave of technological changes is rising and the configuration of global markets is changing,” he explained.

As an example Putin pointed to the United States “where in recent years intensive research has been underway into the shale gas production technology.”

“This may seriously change the structure of the hydrocarbons market,” he warned to have called on the domestic energy companies to counter this challenge already now.

For achieving the identified objective, Putin said “it is necessary to create a system of better, long-term forecasting: macroeconomic, financial, technological and defense.”

“This is still more important in view of the fact that the 21st century is going to become an era of the emergence of new geopolitical centers – financial-economic and cultural-civilizational.”



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