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Deputy PM stresses need to reduce Russia's budget expenditures

March 23, 14:19 UTC+3 BOAO (Hainan Province
According Arkad to Dvorkovich, amid economic turmoil Russia needs to correct steps in all sectors, such as investments, services sector, etc
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Russian Deputy Prime Minister Arkady Dvorkovich

Russian Deputy Prime Minister Arkady Dvorkovich

© Alexander Astafyev/Russian Government Press Office/TASS

BOAO (Hainan Province, China), March 23. /TASS/. Russian Deputy Prime Minister Arkady Dvorkovich expects the country’s economy to stabilize in 2016.

"We hope to stabilize the economy already this year and expect growth in 2017-2018," he said at the Boao Forum for Asia Wednesday.

According to Dvorkovich, amid economic turmoil Russia needs to correct steps in all sectors, such as investments, services sector, etc.

The official also noted two key focus areas: macroeconomic measures, which imply reduction of federal and regional budget expenditures, and a search for new services and products to bring to the market.

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