There are no reasons for a prolonged stagnation of the Russian economy, Russian Deputy Finance Minister Maksim Oreshkin told a Fitch rating agency conference.
According to him, the budget deficit will stand at around 3% of GDP in 2016. Also, Oreshkin said that by October 1st Russia's foreign debt will fall to $500 billion from $550 billion as of July 1.
In addition, the Deputy Minister of Finance pointed out that the Russian economy, which is already adapted to current levels of shocks, will respond to the possible implementation of a risk scenario in China and a likely increase in the base interest rate by the US Federal Reserve System less than that of other countries.
