Shuvalov called the Russians “spoiled” with oil at $ 100 a barrel – RBC

Shuvalov called the Russians "spoiled" with oil at $ 100 a barrel – RBC

First Deputy Prime Minister Igor Shuvalov at the World Economic Forum in Davos

Photo: REUTERS 2015

Speaking at the session Growing in Harder Times Davos Forum, First Deputy Prime Minister said that the price of oil at $ 100 a barrel. Russians spoiled.

«This figure has spoiled us. People expect an increase in government spending, rather than working on the efficiency of labor. Now we’re going to do it because they are forced, “- he said (quoted by TASS).

Shuvalov said that the Russian government is considering a scenario in which the growth of the Russian economy will be near zero. “This means that the economy is frozen, half of our oil revenues disappear, but at the same time, we understand the need to find new markets for our exports of goods,” – he added, noting that earlier before Russia was not the task of finding new markets for exports. In regard to the oil and gas trade, a strategic partner of Russia m ozhet be China, because it is stable and predictable. He also recalled that his first visit to the new leader of China has committed to the Russian Federation.

Earlier on Friday at a session of The Russia Outlook at the World Economic Forum in Davos Shuvalov warned that the current crisis just seems softer than that was in 2008-2009.

«This is only apparent ease – he said. – In fact, it seems to me that we are already in a state of year when we are entering a more protracted and complex crisis ».

At the same time, he said that the longer the sanctions, the more public support President Vladimir Putin. And this will not prevent any problems caused by the sanctions in the life of the country, said First Deputy Prime Minister.

Compared to June 2015, when Brent crude oil reached a peak of $ 115 per barrel., The price for it has fallen more than twice. January 23, according to the 16:30 MSK, on ​​the stock exchange in New York oil futures Brent crude for March delivery traded at $ 49.30 / bbl., Which is 1.5% higher than the previous day. Today, the international rating agency Fitch downgraded expectations for the price of Brent crude oil to the stress level of $ 55.

On Monday, January 19 European Bank for Reconstruction and Development published a forecast that GDP will fall product Russia in 2015 4.8%. In the forecast, the Bank issued in October 2014, show a decline in GDP of 0.2%. “We proceed from the assumption that the average annual oil price of $ 58 per barrel, while sanctions remain in force,” – says a new report of the bank. Earlier, on 16 January, experts rating agency Moody’s said that the decline of Russia’s GDP in 2015 will amount to 5,5%.