Economists: We cannot talk on economic development without structural reforms

Baku. 6 April. REPORT.AZ/ Growth in oil prices will not contribute to GDP more than 2%. Structural reforms are the only way to accelerate economic growth.

Report informs referring to Kommersant, president of Bank of Russia Elvira Nabiulina, minister of finance Anton Siluanov, minister of economic development Maxim Oreshkin and chairman of Sberbank board German Gref sounded these thoughts at Moscow Stock Market Forum.

Talking at the meeting minister of economic development noted that the economy has already got out of crisis and started growth. The Ministry of Economic Development forecast 2%, Bank of Russia – 1-1.5%, Ministry of Finance – 1.5-2% growth of GDP in Russia this year. President Putin demands to accelerate economic growth. Global economy will probably grow by 2.7% this year and by 3% next year. This means that Russian economy has to reach 3.5-4% growth to increase its share in global economy.

Heads of all three state entities and head of Sbrebank talking at the Forum noted that it is impossible to talk about economic development without structural reforms. They noted that government system must be changed, which will boost labor productivity and decrease “shadow economy”. But beside this, they noted necessity of changes in state governance system in parallel with reforms.