The MAYOR of Russia sees no risks to macroeconomic stability

The MAYOR of Russia sees no risks to macroeconomic stability

The pessimistic scenario assumes oil prices of $ 40 per barrel, said the head of Ministry of economic development. But under this option there is no fundamental risks to macroeconomic balance in General, he added.

MOSCOW, 7 Dec. The economic development Ministry sees no risks for macroeconomic stability, the banking sector and the Russian budget even with oil price at 40 USD per barrel, said on Monday the head of the Ministry Alexei Ulyukayev.

“We have so-called pessimistic variant of the forecast, which assumes that, if the basic option was $ 50 a barrel, a pessimistic variant is $ 40 per barrel, which assumes, of course, the worst parameters from the point of view of economic growth,” Ulyukayev said in the broadcast channel “Russia 24”.

“In this version we don’t go next year the positive dynamics of the main economic indicators — industry, GDP, in investment, in consumer demand,” the Minister admitted.

However, he added that “we do not see fundamental risks, for example, for macroeconomic balance in General, risks of non-fulfillment of the budget, or the undermining of the banking system, i.e. the Russian economy as a whole to adapt, the shock passed, we were able to considerably reduce costs, to improve manageability of the companies.”