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Russian economy becoming less dependent on energy prices — PM Medvedev

September 11, 2017, 16:08 UTC+3

Now the economy is developing without serious imbalances, the Russian prime minister said

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© Dmitriy Rogulin/TASS

GORKI, September 11. /TASS/. Russian Prime Minister Dmitry Medvedev noted positive trends in the domestic economy, one of which is development without serious imbalances and a decline in dependence on oil and gas prices.

At the meeting of the Budget Committee, the prime minister stated that thanks to the economic policy "it was possible to neutralize the consequences of external shocks, to take the economy away from recession, to bring the economy to the growth trajectory, achieve low inflation." "Now the economy is developing without serious imbalances, indeed dependence on oil and gas prices has decreased," he said.

The prime minister believes that in order to consolidate positive trends, "a healthier and more solid foundation for development for the future" is emerging thanks to the approved new budget rule. According to him, "low inflation allows achieving lower costs of borrowing." "We need to consolidate these positive trends and develop them within the framework of the new three-year budget cycle," Medvedev said. "We have revised a number of key positions to increase dynamics of economic development, GDP growth, investment growth, industrial production," he added.

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