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Economic development minister says Russian economy has adjusted to sanctions

October 12, 2016, 13:26 UTC+3

According to the minister, the financial state of Russian companies is improving

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MOSCOW, October 12. /TASS/. Russia’s Economic Development Minister said the country’s economy has already adjusted to sanctions.

"The economy has adjusted to this environment (under sanctions - TASS) as sanctions limit access to certain markets, the access to global capital markets is closed for Russian borrowers," he said.

According to Ulyukaev, "the indebtedness of (Russian) companies is declining while (their) financial state is improving." 

The minister  also expects privatization revenues to seriously replenish the budget in the next three years.

"I think around 200-300 bln per year is quite possible," he said, when asked how much the Ministry expects to raise from privatization in 2017-2019.

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