Prime Minister Dmitry Medvedev, speaking at a meeting with candidates for the Supreme and the General Council of “United Russia”, spoke about the “sensible approach” to the development of import substitution and encouraged to take advantage of lower oil prices , to change the structure of the economy. The prime minister noted that currently Russia is “not in the worst position, but not the best”, the official online Party.
“The challenge is that we produce products and goods, which are able to compete in international markets. If we achieve, we will have a different economy. And we do this. Previously, 70% of the budget were revenues from hydrocarbon exports, and now 45% means that we can feed ourselves without it is necessary to change and use this situation “, -. Medvedev said, and called on all party colleagues working in this direction.
The Prime Minister also noted the positive impact of lower oil prices, “When going to the government, I say, if the prices will grow back, return to the previous level, all relax again.” “As they say now, if these difficulties that we encountered were not, they would need, perhaps, to come up,” – he added.
– POF: the first time since the crisis began, the majority of Russians called bad situation – State Duma deputy proposed to stop selling oil abroad: “Being a global gas station, we could not” – due to the sanctions and falling oil Russia will lose $ 600 billion price, estimated by experts – Russian oil export revenues fell by 42%, gas – 23%
“Will the price of oil over $ 140, and all relax again, say that from the good deed goes unpunished, and so fine, all” rushing “, you can re-generate a variety of funds and will be.” – Continued Medvedev. “If tomorrow will be a jump every three or four, then all”, – he added (quoted by TASS).
Speaking about the policy of import substitution, Medvedev said: “It is not easy task to throw all foreign currency items and start to produce something of their own, and even low-quality task entirely different – in that we produce our products and products that are. able to compete in international markets. That is the import substitution “. According to him, if we can achieve this goal, Russia will have a very different economy.
Earlier, on December 5, the newspaper “Vedomosti”, with reference to the experts of the Economic Expert Group written that in the four years since 2014, the Russian economy due to the imposed Western sanctions and price reductions oil will lose about $ 600 billion.
Experts estimate that over the years 2014-2017 the loss of the Russian Federation of financial sanctions will be about 170 billion dollars lost revenue from oil and gas exports – about $ 400 billion. Estimates of capital losses from sanctions are based on an oil price of $ 50 per barrel, export earnings – based sanctions at the same price as compared to $ 100 per barrel, which is focused on the government as a medium-level one and a half years ago.
As estimated by experts, with high oil prices net capital losses from the sanctions for these four years would have amounted to approximately $ 160 billion, or 1.9% of GDP, at the low price of oil several big losses – about 170 billion dollars – in relation to GDP increased by half to 2.8% of GDP. According to calculations, without the sanction of falling oil prices would reduce the investment in fixed assets by 3.2% in 2014-2017, the decline in oil prices without sanctions would lead to a reduction in investment by 22.6%. Under the influence of these two shocks investment will be lower by 24%, experts say.
Note that while the assessment of capital losses from the sanctions were designed by experts on the basis of oil price of $ 50 per barrel, the consequences can be even more serious if the decline will continue. On the eve of US bank Morgan Stanley revised its oil price forecast for Brent crude in 2016 downward .
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fom the first time since the beginning of the crisis the majority of Russians have called the situation a bad
// NEWSru.com // Economy // February 5, 2016
State Duma deputy proposed to stop selling oil abroad: “Being a global gas station, we could not”
// NEWSru.com // // In Russia, February 5, 2016
due to the sanctions, and falling prices oil Russia will lose $ 600 billion estimated by experts
// NEWSru.com // Economy // February 5, 2016
Morgan Stanley downgraded the oil price forecast : Brent for less than $ 30 by the end of the year
// NEWSru.com // Economy // February 4, 2016
Ulyukayev: even with oil at $ 25, inflation not exceed 10%
// NEWSru.com // Economy // February 3, 2016
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