Medvedev: Russia has everything for economic development

Medvedev: Russia has everything for economic development

Russia has all necessary resources for development of its economy, Russian Prime Minister Dmitry Medvedev said during the Dialog program on the Russia 24 television channel.

“We have all necessary resources for this,” he said, adding that currently all national projects are being implemented, the Cabinet of Ministers is working on changing the economy.

"Right now colleagues are preparing a forecast. Moreover, this forecast, as I understand it, will include two scenarios: one is optimal, and the second is more complex," head of the Russian Cabinet of Ministers stressed.

In addition, Medvedev emphasized that the pace of economic growth depends not only on government actions.

“It's obvious that the situation in the world economy also affects our development, our development opportunities. We see what's happening, there's huge slowdown in the international economy, there's a large number of different problems, including trade wars, and there are still sanctions," he said, noting that, despite this context, the government has to achieve its stated goals.

As vice-rector of the Academy of Labor and Social Relations Alexander Safonov said in an interview with Vestnik Kavkaz, speaking about resources, Dmitry Medvedev primarily meant funds accumulated in the federal budget for implementation of national projects.

“At the same time, all those factors that are hindering our economy haven't gone away. The most important factor today is decrease in consumer demand. Government initiatives to raise retirement age and increase VAT have pulled back large amount of citizens’ resources from the consumer market, and this affected many enterprises, which no longer see serious opportunities when it comes to expanding their business," he said.

Anatoly Aksakov, head of the State Duma Committee on Financial Markets, noted that despite the fact that we have all necessary resources, there's no systematic approach to their use.

“I would put uncertainty of our plans at the forefront: we don’t understand where we're moving, how to work, what goals we want to achieve. Constant change in the rules of the game are hindering us: taxes and administrative laws are changing. At the same time, tax policy remains tight and doesn't stimulate economic growth. Administrative barriers still exist, including those related to the judicial system,” he said.