In Russia, he urged to adopt the budget deficit

Deputy Chairman of the government of the Russian Federation Yury Borisov considers it necessary to go to Russia for scarce Federal budget. This opinion was expressed today during the online discussion within the forum “Innoprom”.

“We must stop proud of the budget surplus for a period to ensure a more dynamic growth. I think we should risk it and go for the budget deficit, to go on borrowing. We need to start spending and certainly at least not to reduce those budgetary allocations that today we have plans and the budget”, — TASS quoted the Deputy Prime Minister.

He also urged to reduce dependence on oil prices, because “it is impossible to live under the constant threat of volatility of demand and supply and volatility in oil prices”.

earlier in may, the head of state Corporation “Rosnano” Anatoly Chubais, speaking about the “oil” dependence of the Russian economy, recalled “the famous cowboy saying” and described getting rid of this dependence is a strategic goal.

“Imagine this the oil and gas, which we have today (you have) 20% of GDP, 40% of the budget, 60% of exports. Well, it is the backbone (of the economy). And we got (with the collapse of oil prices in February and March — ed.) is not a bell, and some kind of alarm bell. All, folks! Good to talk about sisanie the oil needle. We have 15 years of hearing how you go. If you do not peel, the dead end will come — not on the horizon, not on the horizon in three years, but in the long,” warned Chubais in an interview with Forbes.

He drew attention to “any predictions on oil prices”. “Even the biggest optimists how much they say? $40 per barrel? Wonderfully, we have this year’s budget is based on is $42.5 per barrel. It is impossible to give the country a strategic risk due to such structure of the economy. This technological system becomes obsolete, it is a fact”, — stressed GLava RUSNANO.

According to him, “there is a famous cowboy saying: if the horse died, it is necessary to get off”. “This does not mean that we should close the West Siberian oil field. But about the strategy, of course, we have to make a decision. The sooner we begin to turn from this path, the more we remove from the country’s strategic risks on a national scale”, — says Chubais.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to