The head of the Economic Expert Group, Evsey Gurvich, thinks that measures for cutting budget expenditures are necessary. “We have reached the limit of increasing expenditures for settlement of certain tasks and now we should turn to searching for reserves and savings. According to our analysis, state revenues will fall quickly in GDP percentage,” the expert stated. According to him, one of the reasons for the stagnation of the Russian economy is the continuation of a “wasteful budget policy.”
"If income continues to fall and the expenses to rise, we will have a "gap", and will find ourselves on the path of Greece! This naturally will reduce the investment attractiveness of the Russian economy," Gurvich warned the public.
