“it is Impossible to live under the constant threat of falling demand and volatility in oil prices. Russia’s budget needs to be stable and not be affected by these global fluctuations,” he said.
According to the Deputy head of the government, it’s time to stop proud of the budget surplus during periods of favorable macroeconomic conditions for the growth of the economy. “I think we should risk it and go for the budget deficit, to go on borrowing. We need to start spending, or at least to reduce budget allocations that today we have plans,” – said Yuri Borisov.
Vice Prime Minister stressed that we should not be proud of the pace of development in 1-2% , and should grow at 5-6%. From his point of view, the drivers of development in many industries today, a crisis can become a refining and petrochemicals and it is now necessary to revise the plans for more advanced processing of raw materials.