No agreement in Russian government over economic growth measures – deputy PM

Igor Shuvalov file photo

(Interfax – May 23, 2013) First Deputy Prime Minister Igor Shuvalov has said there will be no recession in Russia in 2013, Russian Interfax news agency reported on 23 May.

“The will be no recession this year. This is my short answer,” Shuvalov said at a briefing on 23 May.

He said that currently the economy was not in a crisis and the only problem is that the government is not happy about the current rate of growth at current oil prices. First deputy prime minister believes new measures are needed to provide a higher long-term growth.

“So when we are saying that we are not satisfied with the pace of growth, we mean that for real modernization and a higher quality economy we need to motivate ourselves in a different way and build our economic behaviour in a different way,” Shuvalov said.

However, he said short-term success was not worth pursuing, as a high-quality long-term growth is needed.

Measures to stimulate economic growth will be discussed at a special meeting held by the Russian president very soon, Shuvalov said.

The first deputy prime minister said there were serious disagreements among the ministers over the proposed measures. It will be necessary to reach a common solution at the president’s meeting, Shuvalov said.

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No agreement in Russian government over economic growth measures – deputy PM

(Interfax – May 23, 2013) First Deputy Prime Minister Igor Shuvalov has said there will be no recession in Russia in 2013, Russian Interfax news agency reported on 23 May.

“The will be no recession this year. This is my short answer,” Shuvalov said at a briefing on 23 May.

He said that currently the economy was not in a crisis and the only problem is that the government is not happy about the current rate of growth at current oil prices. First deputy prime minister believes new measures are needed to provide a higher long-term growth.

“So when we are saying that we are not satisfied with the pace of growth, we mean that for real modernization and a higher quality economy we need to motivate ourselves in a different way and build our economic behaviour in a different way,” Shuvalov said.

However, he said short-term success was not worth pursuing, as a high-quality long-term growth is needed.

Measures to stimulate economic growth will be discussed at a special meeting held by the Russian president very soon, Shuvalov said.

The first deputy prime minister said there were serious disagreements among the ministers over the proposed measures. It will be necessary to reach a common solution at the president’s meeting, Shuvalov said.