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Relative affluence in Russia not reason for complacency - Dmitry Medvedev

January 25, 2013, 2:42 UTC+3
“This is why today it is important for all of us, for all states, to move on to a steady trajectory of development,” he said
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, January 25 (Itar-Tass) – Prime Minister Dmitry Medvedev said relative affluence in Russia gives no reason for complacency.

Recalling his thesis of six years ago that “being free is better than not being free”, Medvedev told NTV television on Thursday, January 24, that apart from freedom there should also be “economic welfare and economic progress”.

“This is why today it is important for all of us, for all states, to move on to a steady trajectory of development,” he said.

“Following the financial and economic crisis in 2008, global economic growth problems are still there. I will say frankly and not without some satisfaction that our situation is quite decent if we compare the Russian economy with the EU economy or with problems in the U.S economy,” the prime minister said.

At the same time, he noted that all countries are “in the same boat”, “the economy is global” and it is necessary to “find a way to a steady trajectory of development” in the world economy.

“But this gives no reason for complacency. And if everything is well in the world economy we will certainly be able to deal with our domestic problems which abound of course in the Russian economy even though last year was a good one,” Medvedev said.

He said unemployment in Russia is one of the lowest among the G20 countries, GDP growth was 3.5 percent, which by far exceeds that in the Eurozone and the European Union. The foreign debt to GDP ratio is a mere 3 percent, compared to 70 and even 100 percent in many other countries, he said.

Speaking of the future development of the Russian economy, Medvedev stressed the importance of extreme model forecasts. He admitted that they may never come true, but “they give us good food for thought as to what we should not do”.

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