External risks make it more difficult for the Russian economy to reach the growth rate of around 3 percent of the national GDP in 2021, Russian Economic Development Minister Maxim Oreshkin said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 16th January, 2019) External risks make it more difficult for the Russian economy to reach the growth rate of around 3 percent of the national GDP in 2021, Russian Economic Development Minister Maxim Oreshkin said on Wednesday.
According to the Ministry of Economic Development, the Russian economy's growth rates will reach 1.3 percent in 2019, 2 percent in 2020 and 3 percent in 2021.
"There are a large number of things that need to be done between 2019 and 2020 in order to get growth close to 3 percent in 2021 ... The situation in the world economy complicates the achievement of these goals and makes what is happening inside the country, and which measures are implemented much more important," Oreshkin said during the Gaidar Forum in Moscow.
He stressed that the world economy would not be the source of Russian economic growth.
"The outside world [will not be] the source of growth for us due to economic dynamics, sanctions, and trade wars ... [The Russian economy] can only pull itself up ... through investment growth and productivity growth," Oreshkin said.
The Gaidar Forum is an annual international event that brings together scientists and practitioners for discussions on social, economic and political matters. The 2019 Gaidar Forum started in Moscow on Tuesday and will last through Thursday. The Rossiya Segodnya media group is an official information partner of the event.
