Expert says Russia needs balanced economy

 

Expert says Russia needs balanced economyRussia needs to make its economy more balanced, developing those industries that provide significant added value, an analyst of Sberbank CIB, Valery Nesterov, told Vestnik Kavkaza. Today, January futures on Brent crude oil have fallen below $ 67.The analyst said that the export of hydrocarbons accounts for about 66% of Russian revenues. Nesterov noted that today there is no adequate substitute for oil production in the Russian economy but it is necessary to work in this direction. Valery Nesterov said that Russia should strive to create an economy in which the fall in oil prices will be perceived by both the state and the population as a positive development. The analyst added that for Russia this would be the most effective way to fight against the oil market since it has no way to influence oil prices.

 

 

 

Russia needs to make its economy more balanced, developing those industries that provide significant added value, an analyst of Sberbank CIB, Valery Nesterov, told Vestnik Kavkaza. Today, January futures on Brent crude oil have fallen below $ 67.
The analyst said that the export of hydrocarbons accounts for about 66% of Russian revenues. Nesterov noted that today there is no adequate substitute for oil production in the Russian economy but it is necessary to work in this direction. 
Valery Nesterov said that Russia should strive to create an economy in which the fall in oil prices will be perceived by both the state and the population as a positive development. The analyst added that for Russia this would be the most effective way to fight against the oil market since it has no way to influence oil prices.