Russia has enough reserves to adapt the economy to new conditions defined by low prices on energy resources, Russian Prime Minister Dmitry Medvedev told the Gaidar economic forum on Wednesday.
“We have enough reserves to smoothly adapt the economy to the new conditions of work,” Medvedev said, referring to the world oil prices, which have fallen to their lowest in almost six years and have had an impact on Russia’s economy.
Medvedev told the forum that Russia has created a stable foundation to form conditions for a new start — a stable and healthy economic growth. Besides the reserves, Russia has a small state debt, a low unemployment level, an unprecedented consolidation of the society, with authorities enjoying strong public support.
The prime minister also praised Russia’s balanced budget policy, which he said allows authorities to solve two key tasks, namely implementing important social programs and supporting national economy.
“The above listed factors should lay the foundation for a complex of measures on shaping a modern economic policy,” he said.
He also said Russia has enough reserves to guarantee the payments of foreign debts, and is ready to help companies in this.
“We still have significant reserves which guarantee payments under the state debts and if needed, we can help companies in paying their foreign debts,” Medvedev said.
Medvedev said “sanctions come and go, like their authors,” while business relations, economic interests and the reputation remain.
“Russia will fulfill its international commitments,” Medvedev stressed. “This country is a reliable borrower, a reliable creditor and a reliable supplier,” he said.
First published by TASS.
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