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“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.

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Jennifer Alvarez is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.