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Deputy PM: reasons for Russia’s economic failures lie within, not outside

“Efficiency and costs are number one issue. We should not be blaming bad foreign markets," Igor Shuvalov said

© ITAR-TASS/Denis Vyshinsky

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MOSCOW, December 23. /ITAR-TASS/. Russia should look for the causes of its economic failures within, not outside, Russian First Deputy Prime Minister Igor Shuvalov told TV channel Rossiya-24 Monday.

“Efficiency and costs are number one issue,” he believes. “We should not be blaming bad foreign markets, but trying to find the reasons for failures inside the country.”

Shuvalov added the authorities were aware of the underlying reasons for the failures as well as the need to work for greater efficiency within the budget opportunities available.

Meanwhile, high oil prices are not an excuse to spend as much as you can: “We should restrain ourselves here, those in power should restrain themselves, setting certain limits society can easily understand.”

Shuvalov noted a number of the primary issues, among them that of fighting with offshore schemes. This is important, he said, both economically, for instance for the purpose of eliminating tax evasion, double taxing or other “fiddling”, and psychologically.

“We should have more trust towards our own jurisdiction. Why is any other insular jurisdiction better than our own, Russian?” Shuvalov wondered.

About his own assets, Shuvalov reiterated they had long been entirely transferred to Russia.

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