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No dramatic growth in oil prices can be expected in next 2-3 years - Oreshkin

February 20, 2016, 22:59 UTC+3 MOSCOW

"Hence, in order to augment export we must win competition", said Russian Deputy Finance Minister

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MOSCOW, February 20. /TASS/. Oil prices are highly unlikely to demonstrate considerable growth in the next two or three years, so it would be wrong to pin too big hopes of this factor while speaking about Russia’s economic development, a top ranking finance ministry official said on Saturday.

"We should understand that the external background is unlikely to be of any help," Deputy Finance Minister Maxim Oreshkin said in an interview with the Rossiya-24 television channel. "Oil price growth will not be very big, if any. That is why we should not rely on this factor too much."

"From the point of view of promoting our exports, we should understand that the global economy will not demonstrate rapid growth. Hence, in order to augment export we must win competition, we will have to plunge into the toughest rivalry with other countries and win. So, we must rely only on ourselves," he stressed.

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