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BEIJING, October 22 (Itar-Tass) - The global economy will remain in depression if the emerging economies do not contribute to its development, Russian Prime Minister Dmitry Medvedev told an online conference with China’s Internet users on Tuesday.
“If the global economy has a future, it will be successful, only if the emerging economies participate in it,” he said, adding that if economies of China, India, Brazil, South Africa and Russia would be unable to make their contribution to stabilization of the global economy, “no good will come out of it.”
“I believe that our economy, economies of the BRICS nations and other emerging markets are the main drivers of the economic growth,” Medvedev said, adding that these economies had their difficulties, but also a colossal potential that helped compensate for emerging disproportions.
The prime minister recalled that the European Union was observing a recession and the U.S. economy was also facing difficulties.
“Therefore if the emerging economies cannot make their contribution, our global economy will remain in a half depressive state, the more so the International Monetary Fund lowered its forecast for the global economic growth this year. We hoped for a higher growth, but the forecast stayed at 2-3 percent,” the Russian prime minister said urging consolidated efforts in this direction.