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Minister expects long-term economic growth in Russia

June 14, 15:24 UTC+3
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HARBIN, June 14. /TASS/. The Russian economy is expected to have long-term growth, Minister of Economic Development Maxim Oreshkin said on Wednesday.

"The foundation of changes in the last two years [in the Russian economy - TASS] is very strong. According to our estimates, it will make possible to have long-term economic growth in coming years," the minister said.

"Two challenging years have passed associated with adjustment to oil price plunge, while now the (Russian) economy is at a unique point. Looking ahead into its structure and the state of markets it may be noted that there are no structural imbalances or excesses in store for particular segments of the Russian economy," he said ahead of the opening of the 4th China-Russia Expo on Wednesday.

Speaking about the upcoming event, the Minister said that the beginning of this year has marked a surge in trade turnover between Russia and China, which among other things will set the stage for a new economic growth phase in Russia.

Relations between Russia and China are developing very successfully in recent years and Russia intends to bring these relations to a higher level for reliable support of interests of two countries in this century, Oreshkin added.

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