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Accounts Chamber chairwoman: Russian economy is still dependent on oil

In the first half of 2017 Russia should save the additional budget revenues it received thanks to the growing oil price, Accounts Chamber chief stressed

© Egor Aleev/TASS

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Putin notes Russia's economy has adjusted to current energy prices

MOSCOW, January 13. /TASS/. Russian economy is still oil dependent, Chairwoman of the Russian Accounts Chamber Tatyana Golikova said in an interview with TASS at the Gaidar Forum.

That is why in the first half of 2017 the country should save and not spend those additional budget revenues it received thanks to the growing oil price, she said.

She noted that it is better to wait a while before start spending the extra revenues and monitor the situation within the budget system.

"We have to look carefully. What we definitely should not do is spending the extra money until we understand how the situation is developing. We will always have time to spend and we know how to do this. Not always effectively though but we know how," she said.

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Economy Oil price

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