17:3830.11.2016
(updated: 18:03 30.11.2016)
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MOSCOW, 30 Nov – RIA Novosti. the New head of the Ministry of economic development became 34-summer Maxim Oreshkin. Statements by the new Minister of the basic economic issues — the selection RIA Novosti.
ruble
“we Have a key element of the policy of the Central Bank is floating the exchange rate, which means that in the event of a change of balance of payments policy immediately finds a new equilibrium, and this means that you cannot expect at any given moment in time without changes of external conditions would be a significant change in exchange rate dynamics”.
Russian President Vladimir Putin and Deputy Minister of Finance Maxim Oreshkin during a meeting in the Kremlin. November 30, 2016
price of oil
“Our basic idea is to choose the level (oil prices — ed.) which looks to be structurally stable in the long term, and on the basis of it to build macroeconomic policy. Do not rely on 70-80 (per barrel — ed.). We live in a world when oil will be 40-50 (USD), anything above that is temporary, and it is impossible to draw, can’t be based on economic development. Anything below that — it may be possible to compensate for through stimulus measures, but again, you need to focus on 40-50″. the
About the imbalances in the Russian economy
“Structural imbalances need to be overcome for the Russian economy to achieve higher rates of economic growth. The main imbalance is the low share of investment in GDP. We currently have a share of investment in GDP of about 17-18%, and it is obvious that this level will not allow the economy to grow higher by about 1.5% of GDP”.
Prime Minister Dmitry Medvedev and Minister of economic development of Russia Maxim Oreshkin during a meeting in the suburban residence “Gorki”. November 30, 2016
About “gas pedal”
“Only where it can be the gas pedal outside of the state in the private economy. We hope that the private sector will actively respond to the increased profitability of its business over the past couple of years to increase private investment because, in our opinion, the only way the economy can grow and grow faster than it does now”.
About the economy of China
“do Not tire of repeating that the growth model of China is not sustainable, accumulated huge structural imbalances, development issues. Recent data indicate that a second wave of capital outflows in recent months, the outflow more than in previous months. It is possible that there are two stories which, especially if they occur simultaneously, can play bad service for the Chinese economy”.
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