Future of Russian economy discussed in Krasnoyarsk

Future of Russian economy discussed in Krasnoyarsk

Krasnoyarsk is hosting its annual economic forum, the first took place in 2004. This time, its theme was declared as: "Russia: Strategy 2030". The forum's participants will develop their proposals for the establishment of a working mechanism of the Russian Federation's socio-economic development strategy for the period to 2030.

Along with such a distant prospect, the near future of the economy is also being discussed in Krasnoyarsk.

In particular, the Deputy Prime Minister Arkady Dvorkovich stated that he considers that a decline during this year is the most probable scenario. He stressed he didn't consider that this variant of events was predefined.

"I believe that there was no predestination that we will experience an economic downturn this year. Certainly, it is most likely, but there is no predetermination," RIA Novosti cites him as saying.

The Vice Prime Minister also informed about the imminent completion of an action plan in the sphere of the economy for this year. "By the 25th, Minek should submit a draft. If some disagreements remain, then we will consider them in the body. We are to accept the plan in February. We hope that the chairman of the government will sign it in February," Dvorkovich said.

Deputy Finance Minister Maksim Oreshkin shared his forecast for 2016.

According to him, inflation will be at the level of 7.5% to 8% if oil prices remain at the current level, the Deputy Finance Minister believes."

"If oil remains at the current level we should discuss the deficit above 4%," he continued.

Oreshkin assured that the Ministry of Finance doesn't intend to use the National Welfare Fund (NWF) to finance the budget deficit. "It is not provided for the budget," the deputy minister said.

"Remainders will block all needs even with a negative scenario, especially in view of the revaluation we carried out in respect of the Reserve Fund," he added.

"But on the other hand, there should be a lot of such platforms, and they should be professionally organized to work out solutions that can serve as a basis for the actions of the public authorities, regulators, business and so on. It is more a platform to discuss these solutions. We have a government and various professional associations that are involved in the development of a variety of measures,'' he added.