Russian Deputy Prime Minister Arkady Dvorkovich said that Russia's economy is able to grow at oil prices as modest as $30 or $40 per barrel, Reuters reports.
Speaking at an economic forum, Dvorkovich said that although official forecasts predict an economic contraction in 2016, growth in the world's biggest oil producer was possible.
"We can grow at $30, $40 or $50 per barrel. Here there is no contraction with official forecasts, it's a matter of scenarios," Dvorkovich said.
He said that whether growth could be achieved "depends almost entirely on ourselves, on our own efforts".