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Medvedev hopes for Russian economy’s growth above 3 pct 2013

January 24, 2013, 15:20 UTC+3

He recalled that the economy’s growth was one of the themes of Russia’s G20 presidency

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DAVOS, January 24 (Itar-Tass) – Russian Prime Minister Dmitry Medvedev hopes the Russian economy will grow by three percent in 2013.

“You and me are certain about three-percent growth, but I hope for more,” he said at a business luncheon held by VTB Capital. “It is obvious that three percent is some averaged value, which Russia and the world may well count on this year. But we all should make the growth more tangible.”

Medvedev recalled that the economy’s growth was one of the themes of Russia’s G20 presidency.

In contrast to other countries Russia copes with the debt burden well enough. At the same time it is necessary to lower the dependence on the export of energy resources.

“We should give thought to what we can present to the world in case the paradigm of energy development is changed,” Medvedev said. He believes that it will change sooner or later, irrespective of the current ups or downs or the volatile situations on the world markets.

“We do understand that the world experiences an energy revolution each 50-70 years,” Medvedev said. “The nuclear energy phase will be followed by another one – creation of new energy sources. This means that hydrocarbons will not fully determine the pattern of world energy consumption.”

He declared that Russia has good chances of becoming a world provider of foods.

“Let me remind you that our country held that position once. It was a major provider of foods at the beginning of the 20th century. Then, due to the well-known reasons, we gave way to others, but we now have fantastic opportunities for food manufacturing, for plant growing and cattle farming. We should be developing in this direction.”

Medvedev said the efforts must be focused on the growth of labor productivity.

“As far as labor productivity is concerned, this must be done first thing, because our productivity falls behind the standards and norms of consumption,” he added.

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