Italian Foreign Ministry: It is necessary to assess conditions for returning to G8 formatWorld January 17, 20:04
Russia hopes ECHR will cancel its ruling on Dima Yakovlev Law — diplomatRussian Politics & Diplomacy January 17, 19:35
Preserving Moldova's neutrality impossible without partnership with Russia — presidentWorld January 17, 19:10
OPEC to monitor oil production, export — Saudi Arabian Energy MinisterBusiness & Economy January 17, 18:57
Group of Sukhoi-24M bombers to return from Syria soon — Defense MinistryMilitary & Defense January 17, 18:50
Russian reconciliation center reports over 1,130 Syrian settlements join ceasefireWorld January 17, 18:47
Over 5,000 Syrians get medical aid from Russian doctorsWorld January 17, 18:37
It is wrong to build Moldova-EU relations on anti-Russian rhetoric, president saysWorld January 17, 18:16
Nobody in Moldova will take risk of recognizing Crimea as part of Russia now — presidentWorld January 17, 17:56
MOSCOW, October 2 (Itar-Tass) — Russia will be able to balance social obligations with resource opportunities only if the economic growth makes up 4-4.5 percent, Economic Development Minister Andrei Belousov told the Russia Calling forum on Tuesday.
“The growth of 4-4.5 percent is that minimal level that allows us to balance social obligations and the spending on defence with our resource opportunities,” he said.
Belousov emphasized that the inertial model of development that Russia used before the crisis gave it 2 percent of the GDP growth.
“The share of consumption in the GDP – minus 3 percent, of export – minus 2.5 percent and of budget consolidation – minus 1 percent… Thus, we get a 2 percent growth if to sum all this up and deduct from 8 percent (of the pre-crisis growth – Itar-Tass). This figure does not fit us: simple calculations demonstrate that by moving at a pace of 2 percent a year we simply will be unable to balance social obligations with resource opportunities, this is impossible.”
That’s why the government’s priority is “to double this figure,” the minister said.