Medvedev: Russian govt needs decisions to switch to econ growth

MOSCOW, Dec 8 (PRIME) -- The Russian government will have to make a number of decisions which would allow the country to switch to economic growth and raise the budget’s resistance to internal and external shocks, Prime Minister Dmitry Medvedev said Thursday at a government meeting after signing relevant rulings.

“It is necessary to make decisions which should allow for revival of economic growth and optimization of control mechanisms over the entrepreneurial sphere. It is also necessary to raise the resistance of budgets of all levels to fluctuations of oil prices and other internal and external shocks,” Medvedev said.

Medvedev has ordered ministries and public organizations to prepare by March 9, 2017 a draft complex plan of action to reach the pace of the country’s economic growth exceeding the rate of global growth no later than in 2019–2020.

In addition, measures to improve the business climate, raise efficiency of large investment projects, boost volumes of non-energy exports, develop small and medium-sized businesses and increase efficiency of state support to economic sectors should also be developed.

Medvedev also ordered the Finance Ministry and the Economic Development Ministry to study an issue of ensuring the budget’s stability regardless of oil prices by December 10, 2017.

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