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Prime minister: Russia has learned the skill of surviving under harsh external pressure

April 24, 2015, 14:36 UTC+3 MOSCOW
Medvedev hopes that the measures to support the industries, agriculture and the banking system and promoting import substitution will help bring about an early economic recovery
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Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© Yekaterina Shtukina/Russian government's press service/TASS

MOSCOW, April 24. /TASS/. Russia has mastered the skill of surviving and developing in an adverse environment, Prime Minister Dmitry Medvedev told the Economic Ministry’s board on Friday.

"The external environment remains unfavorable. We do not anticipate the conditions will improve fast," he said. "We’ve got to learn the skill of carrying on and living in this type of situation."

"Contrary to the apocalyptical forecasts I have the impression that we have already got the knack of it," Medvedev said.

"There cannot be good without evil," he remarked. The country is capable of carrying on in rather complicated conditions, he believes. "The reserves of our economy are solid enough, which enables us to not just survive, but even develop in an extremely adverse environment," he said.

"The economy is under the strongest pressure and the economic problems of Russian origin and structural issues are still there," he said. As Medvedev recalled, "economic growth slowed down considerably last year, and this year the rate is already in the red."

Medvedev hopes that the measures to support the industries, agriculture and the banking system and promoting import substitution will help bring about an early economic recovery.

He pointed to the economy’s dependence on the export of raw materials as one of the chief problems. Also, he mentioned the insufficient effectiveness of investment activities at a time when it was necessary to address ambitious infrastructural tasks, the small share of small and medium businesses in the economy, unduly high costs, and poor management in all sectors, including the public sector.

"These are major constraints on our competitiveness," he said.

Infographics Economical sanctions against Russia Economical sanctions against Russia
The USA, EU, Canada and Australia have introduced sanctions against Russia over its involvement in the Ukrainian crisis. Infographics by ITAR-TASS

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