Global economic slowdown will be biggest threat to Russia

Baku. 30 May. REPORT.AZ/ In the near future, Russia's economy will be subject to a number of internal and external influences, in particular as a result of the slowdown in world economy. 

Report informs citing the RIA Novosti, Russia's Central Bank governor Elvira Nabiullina said.

Bank chairperson said that in next 5-10 years, Russia's economic growth factors will differ from 2000-2015. Nabiullina said that currently there is an absence of locomotive developing world economy that reduces demand for raw materials and other traditional goods exported by Russia.

“In the past China played a leading role. Now, however, place of economic growth in that country slowed down and quality has changed. It now develops not due to exports and investment, but at expense of consumption.

As a result, it increases energy efficiency. In addition, supply of raw materials increased in world.

In addition to shale oil and gas, there is a surplus of production capacity in global steel industry. Therefore, we can say that it is the end of not only oil but super cycle of raw materials in general", senior banker said.