NEWSWATCH CNBC: “Ex-Russia Fin Min [Kudrin]: We need ‘painful’ structural reforms”
CNBC covers remarks by former Russian Finance Minister Alexei Kudrin, citing the ongoing impact of oil prices while also noting a need for Russian economic reforms, stymied by political considerations.
… Kudrin acknowledged the ongoing impact of … commodities … ‘The drop in GDP (gross domestic product) this year mainly has to do with the drop in oil prices – it will be like this this year and next year’ … However [he also] highlighted other factors as being at least as important. ‘We need structural reforms in various areas. That will lead to diversification. But these reforms are often painful and that is why the government postpones them to after parliamentary and presidential elections …’
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