Oil prices decline will expand scale of economic problems

Baku. 25 April. REPORT.AZ/ If we consider the general picture of the Russian economy, it becomes clear that there aren’t really any fundamental changes. And this is a very dangerous situation, because in recent years, officials had a powerful tool as reserve funds, which have shrunk substantially, and in the future, if oil prices go down, the scale of the problem will be incommensurably greater."

Report informs referring to Gazeta.Ru, senior lecturer at Moscow State Institute of International Relations (MGIMO) Alexey Mikheev said.

According to A.Mikheev, one of the main problems of Russian economy is very strong dependence on oil quotations, and seemingly positive dynamics is caused mainly by rising energy prices.

"In order to get out of the recession, we need measures that are rather unexpected and bear the character of a" positive shock”, says the deputy director of the HSE Institute for Development, Valery Mironov.

“Our economy was shocked when the ruble devaluated against the backdrop of falling oil prices. In order to recover the economy needs shock therapy: removal of all bureaucratic barriers that prevent the opening of new industries and enterprises, and reforms in judicial system”, he noted.