Low prices for oil and ruble plummeting create not only risks but new opportunities for the Russian economy, Prime Minister Mikhail Mishustin said on Thursday, adding that the government was preparing additional measures to deepen the import substitution in several sectors
MOSCOW (Pakistan Point News / Sputnik - 12th March, 2020) Low prices for oil and ruble plummeting create not only risks but new opportunities for the Russian economy, Prime Minister Mikhail Mishustin said on Thursday, adding that the government was preparing additional measures to deepen the import substitution in several sectors.
"Low prices for oil and Currency exchange rate volatility create not only risks for our economy, but new opportunities as well. These opportunities are, first of all, related to import substitution programs. This has already given fruit. We are now working on additional measures to deepen the import substitution in industry and agriculture, we are expanding opportunities for non-energy high-tech products," Mishustin said at a meeting of the Russian cabinet, adding that the national economy was strong enough to maintain stability.
"The situation in the Russian economy is under control of the president and the government. We have all the instruments to overcome the situation calmly, without any shock. We have enough resources to maintain financial stability," the prime minister added.
