EBRD: oil at $30 per barrel is the best moment to diversify the economy of the Russian Federation

EBRD: oil at $30 per barrel is the best moment to diversify the economy of the Russian Federation


LONDON, 2 February. Now is the best time to diversify the Russian economy and reducing dependence on commodities prices, said the President of the European Bank for reconstruction and development (EBRD) Suma Chakrabarti in an interview with Bloomberg.

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“It’s much more feasible at an oil price of $30 per barrel, he said. According to Chakrabarti, the price of oil is $80-90 per barrel to implement structural reforms in the economy would be less realistic than now, when the fall in oil prices reduces incomes of the budget.

From the beginning of 2016, the price of Brent crude fell 14% to $33 per barrel. Russian authorities to discuss a plan of priority measures to support the economy. According to preliminary data, the measures of the 750 billion rubles in 2016, the Plan includes support for the automotive industry, transport engineering, light industry and housing.