Putin to discuss bilateral ties, anti-terrorism efforts with King of JordanRussian Politics & Diplomacy January 25, 5:26
UEFA to consider Russian football player Eremenko’s appeal on March 2Sport January 25, 4:37
Serbia, Kosovo agree to continue high-level meetings — agencyWorld January 25, 4:00
Syrian talks in Astana successful - Turkish top diplomatWorld January 25, 2:39
Russia’s Shumakov center boasts record number of heart transplantations in 2016Society & Culture January 25, 0:48
EU-Moldova association deal may be scrapped if people say so — presidentWorld January 24, 23:10
NATO experts arrive in Moldova to assist in developing military strategyWorld January 24, 21:13
FIA F1 top management reshuffle unlikely to affect Russia’s Sochi GP — expertSport January 24, 20:42
Russia hopes for constructive work with Trump's administration at G20Business & Economy January 24, 20:29
MOSCOW, February 2. /TASS/. The current crisis economic situation is pushing authorities to carry out large-scale privatization deals. These deals need to be effective and transparent in the falling market, Economic Development Minister Alexey Ulyukayev said Tuesday.
"In 2014-2015, the market fell and continued to fall, while we were waiting for the situation to change. Now we realized that there is nothing else to wait for. The budget situation is very critical, the general turbulence of the financial markets does not give reason to expect some rebound, recovery. Now, the challenge is to hold effective and transparent privatization deals in the extremely unfavorable market," Ulyukayev said.
The minister noted that several years ago the authorities have learned to hold very efficient and transparent privatization procedures in the growing market. In 2011-2013, "brilliant deals by world standards" were held, the official said.
Ulyukayev stressed that he fast-changing macroeconomic reality requires decision-making without panicking.
"Currently we’re facing a fast-changing macroeconomic reality. It’s necessary to take into consideration the changes in our work, not in a panic way but from the viewpoint of mobilization of the resources we have," the minister said, adding that "amid bigger tension it’s necessary to be more targeted."
Accordng to the minister, it is possible Russia’s economy will shift to a moderate recovery in 2016.
"I’m convinced that this year the economy may shift to a moderate recovery," he said on Tuesday.
Earlier Ulyukayev said that according to preliminary estimates Russia’s GDP contraction equaled 3.9% in 2015 while the latest forecast issued by the Economic Development Ministry implied an average of 3.7-3.8% contraction for the year. According to Russia’s state statistics service Rosstat, the country’s GDP dropped by 3.7% last year against 2014.
Currently, the ministry is reviewing its estimates for 2016.