Naryshkin: external capital markets became unreliable after sanctions

Naryshkin: external capital markets became unreliable after sanctions

MOSCOW, 2 Nov. External capital markets and technology has become unreliable after the introduction of Western countries anti-Russian sanctions, in this regard, today the main intention of the Russian Federation — on its own forces and internal resources, said state Duma speaker Sergei Naryshkin.

“The events of the last two years only confirm the relevance of such tasks. Because, as you know, foreign markets of capital and technologies have become unreliable due to the fact that our Western partners took illegal decisions, which go against the principles of free competition and the principles of world trade. In this regard, our main settlement today is their own strength, that internal resources and domestic sources of growth”, — said Naryshkin, speaking at the parliamentary hearings on the theme “overcoming structural imbalances and fostering economic growth in the Russian Federation”.

The Chairman of the state Duma noted that among the strategic tasks of the state policy a special place is given to the diversification of the economy and its structural changes.

“It certainly should, for greater stability of the economy and to ensure its long-term long-term strong growth. First of all, due to the introduction of high technologies in almost all spheres of economy and social sphere, by improving the investment climate, convenient legal regulation of business activity fair and effective judicial practice in commercial and other disputes, from which, in fact, one gets the quality of national jurisdiction,” he added.

This Naryshkin noted that the Russian economy remain structural imbalances: income from commodity exports still affect the state Treasury, reserve funds, and the volumes of investment in the Russian economy.

“But if we look at the structure of the Russian economy overall, the share of oil sector in gross domestic product from year to year is reduced and today represents less than 10%. We should not forget that our Russian fuel and energy complex will give odds to many other industries and on the development and implementation of innovations, new technologies, and in regard to the conquest of foreign markets”, — said the speaker of the state Duma.

Naryshkin proposed at a hearing to discuss legislative and economic growth. He recalled that for the last 1.5 years the state Duma has adopted a number of laws in this area, including laws on strategic planning, on industrial policy, on the free economic zone in Crimea, a public-private partnership and others.

“Today I ask you to give due attention to the issues of parliamentary control in the public sector, to strengthen which the State Duma of the sixth convocation has already done a lot,” said Naryshkin.