Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
Gazprom CEO says North Stream-2 pipeline proves relevanceBusiness & Economy January 20, 19:10
More survivors found in avalanche-hit Italian hotel — mediaWorld January 20, 18:48
Donald Trump takes office as 45th US PresidentWorld January 20, 18:21
Photos of the week: Trump in front of Lincoln, Miss Universe beauties and icy plungesSociety & Culture January 20, 18:21
DAVOS, January 23 (Itar-Tass) — Russian Prime Minister Dmitry Medvedev believes that the Russian economy will not collapse even if the shower of petrodollars runs dry.
“We are being asked – what shall we do, if the shower of petrodollars runs dry?” he said at a full-scale session of the World Economic Forum. “Will the Russian economy collapse then? No, it will not!”
Medvedev acknowledged that the Russian economy’s dependence on the export or raw materials was great, but at the same time it was grossly exaggerated already now.
He said the economy over the past few years was growing not so much with oil and gas incomes, as with the production of consumer goods and services. In the longer term it is to bring about a considerable expansion of export of food and intellectual services.
“I am certain that in the future they will be in no smaller demand than oil is today,” Medvedev said.