Shuvalov: the ruble devaluation pushes for structural reforms in the Russian economy


MOSCOW, October 21. The devaluation of the ruble is pushing for structural reforms in the Russian economy, said the first Deputy Prime Minister Igor Shuvalov. In September saw the barely visible growth of industrial production, industry of the Russian Federation starts to recover, as did he.

The situation on the labour market is stable, the unemployment rate declined to 5.5%, Shuvalov said, also pointing to stabilisation in the banking sector of the Russian Federation.

As stated by first Deputy Chairman of the government, reducing budget expenditures on the agricultural sector will not.

Shuvalov believes long procedure of selection of MAYOR investment projects in the framework of the program of import substitution. According to him, the government and the Central Bank develop approaches to facilitate lending by Sberbank and VTB small and medium businesses.