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Dvorkovich forecasts growth in shale gas prices and softening of ECB policy

January 23, 2014, 18:40 UTC+3 DAVOS

Relatively low prices on energy carriers may not remain low for a long time, they may go up again - Russia's Deputy PM

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DAVOS, January 23. /ITAR-TASS/. Russian Deputy Prime Minister Arkady Dvorkovich has forecast the growth of shale gas prices and a softening of policy of the European Central Bank.

“It is unobvious that relatively low prices on energy carriers affected by the development of shale gas and oil will remain low for a long time,” he said. “They may go up again.”

The growth of the European economy was equal to 0.4%, Dvorkovich said, adding that “this is not the growth, that’s nothing.”

“The European Central Bank will have to soften its financial policy, especially in the context of tougher requirements for commercial banks’ capital in compliance with the norms of the Third Basel Accord (Basel III) and the deficit in financing small and medium businesses,” he said, adding that Russia “is inseparable from the rest of the world as well as the BRICS group of nations - Brazil, Russia, India, China and South Africa - is a part of the global economy.

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