Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

G-20 - Group of Twenty Finance Ministers and Centr : Prime Minister Dmitry Medvedev’s interview with Reuters

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/06/2013 | 10:39am CEST

Among the issues covered in an interview with Reuters, Russian Prime Minister Dmitry Medvedev spoke about the fulfillment of Russia's G20 commitments.

Particularly, he mentioned the need for stimulating economic growth, one of the key priorities of Russia's G20 Presidency. The issue was extensively discussed at the G8 Summit in Lough Erne, Northern Ireland, last June. Dmitry Medvedev believes there is no point in determining whether growth, fiscal consolidation or steady development is more important. "I don't think there is any such dilemma. Long-term economic development is impossible without fiscal consolidation and macro-economic stability," the Prime Minister stressed. "Perhaps we could make some progress without it, but it would be short-lived. Real, steady development is only possible with fiscal consolidation, accurate accounting of what the government can afford to spend on different areas of importance, and a stable financial environment, with inflation and unemployment under control, along with foreign and domestic debt."

Medvedev also spoke about the measures being taken by the Russian Government to achieve set goals. He believes there is not a one-size-fits-all solution for stimulating economic growth. The business credit terms are being improved. Action is being taken to change the general structure of the Russian economy and to switch from industrial to innovative development. This could prompt not only small but also large businesses - that are rather idle and content with simply getting results - to pay for innovations and implement them in their work. Also in the interview, Medvedev mentioned the changes in the Russian law aimed at fighting corruption. Particularly, a system has been implemented for public workers to declare and report on their income.

The Prime Minister also recalled that the G20 member states had assumed obligations to stay within the agreed upon budget deficit parameters. "I can assure you that Russia honours its commitments," Dmitry Medvedev said. "Our budget deficit is actually hovering around zero. The situation was more complicated during the crisis, but since then we have balanced our budget and have been working to keep it deficit-free, which cannot be said about many European or other countries. I believe this is a matter of responsible economic policies: to ensure a normal balance of revenue and expenditures and an inflow of investment, at least for a predictable period, in order to guarantee macroeconomic stability, while doing what we have been discussing for a long time, that is, targeting inflation and setting the inflation rate as a key indicator of the country's development."

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
02:31p VIASAT : Presolicitation Notice - Senior Leader Command Control Communications System - Airborne (SLC3S-A) Broadband Aero Mobile Satellite Service (AMSS) IIa
02:31p SATCOM SYSTEMS : Sources Sought Notice - Humanitarian Assistance Disaster Relief Satellite Communication (HADR SATCOM)
02:31p SPECIAL NOTICE - REPAIR AND/OR CALIBRATION OF THE FOLLOWING EQUIPMENT : 24 each Vaisala WS425D7A1C Ice Free Wind Sensors, ASN: S100-2A8MT3A2
02:31p GENERAL DYNAMICS : Combine Solicitation - 18M Antenna Service of Servo Control Data Package Including Azimuth and Elevation Encoders
02:31p FEI : Presolicitation Notice - MAINTENANCE ON FEI TECANI 20/D2067/F1040257
02:31p AGILENT TECHNOLOGIES : Sources Sought Notice - Maintenance and Service Agreements for Agilent Instrumetation
02:31p Olea Announces OleaVision(TM) See-Through Wall Technology
02:31p MEDCOMTECH : Combine Solicitation - (1) Family Practice Physician and (1) Physician's Assistant
02:31p OREXIGEN THERAPEUTICS : Expands Commercial Leadership Team with Appointment of Healthcare Industry Veteran Brian Longstreet as Senior Vice President of Global Market Access and Development
02:31p HCA : Reports First Quarter 2016 Results
Latest news
Advertisement
Hot News 
DIRECTOR DEALINGS : Jersey Oil & Gas COO Buys Shares
GOLDPLAT : Change of Nominated Adviser
BIND THERAPEUTICS : In a Bind, co. files Ch. 11
EBIQUITY : Re Directorate
DP POLAND : Posts 14th Consecutive Quarter Of Double-Digit Growth
Most Read News
05/02 GEOOP : joins MYOB’s add-on community
05/02 RIO TINTO COAL AUSTRALIA PTY : reveals its largest violet diamond from the Argyle mine
05/02 HAL HORTICULTURE AUSTRALIA : Expanded access for citrus exports to South Korea
05/02 GEARY COMPANY ADVERTISING : Campaign for Tunica Convention and Visitors Bureau Earns Top Honors at Mississippi Governor's Conference on Tourism
05/02 AEGION CORPORATION : Reports 2016 First Quarter Financial Results
Most recommended articles
01:15aDJUBS Shares Drop As Profit Slumps
08:22a GE wants become big player in offshore wind, eyes Adwen takeover
08:20aDJArcher Daniels Midland Hurt by Weak Exports
08:18a Sprint forecasts jump in full-year operating income
08:16aDJEncana Posts Larger-Than-Expected Loss