Austria’s OMV head tells Putin about joint plans with Gazprom to extract gas in SiberiaBusiness & Economy April 28, 15:16
Central Bank may lower key rate to 8.5% by year’s end — Ex-Finance Minister KudrinBusiness & Economy April 28, 15:02
Russia to reach target oil production cut level on April 30 — energy ministerBusiness & Economy April 28, 14:36
Bernie Ecclestone says racing track in Sochi remains among his favorite onesSport April 28, 14:19
Russia ready to provide Hitler’s skull to scrutinize its authenticitySociety & Culture April 28, 14:15
State-run Ukrainian bank launches seizure of ex-president Yanukovich’s assetsBusiness & Economy April 28, 14:05
Russia to upgrade parachute for Ratnik ‘soldier of future’ combat outfitMilitary & Defense April 28, 13:46
Russia's Central Bank reduces key rate to 9.25%Business & Economy April 28, 13:39
Turkey, Russia clinch agreement on S-400 air defense system deliveriesMilitary & Defense April 28, 13:38
DAVOS, January 22. /TASS/. The continuing economic crisis in Russia shows that it is necessary to introduce reforms, Deputy Prime Minister Yury Trutnev told the World Economic Forum in Davos on Friday.
"The crisis first of all calls for reforms, and we worked on reforms before that. We want the reforms to create maximally competitive conditions for business," Trutnev said.
He reminded that according to the Doing Business rating by the World Bank, Russia went up from the 120th to the 51st place among countries that introduced the biggest number of effective reforms to improve the business climate.
Trutnev added that it's necessary to step up work in this sphere.
According to Trutnev, Russia's budget should be substantially reshuffled, expenditures need to be focused on investment trends and business support.
"In the current situation I believe it is necessary to reshuffle the budget. Firstly, it needs to be focused on investment trends and business support," he said.
Trutnev noted that the Government discusses the issue. "I think that now we need to simply calculate how much each ruble invested in the economy will give back. If we allocate the budget based on this analysis, I believe that people will understand us, and within two or three years we will create the foundation for the new Russian economy. To be honest, I do not see any other way," he said.