Politics

​Alexey Kudrin: “Oil output won’t drop in Russia”

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“Oil output will not drop in Russia, although the low oil prices may cause a decline in revenues from oil export,” Chairman of Russia’s Chamber of Account Alexei Kudrin told Kommersant newspaper.

Along with this, according to him, Russia’s economy will face difficulty if non-oil and non-gas sectors don’t develop dynamically.

“If we are ahead of others, the profitability will be provided by new technologies and innovative solutions, numbers, innovations. A very critical moment for the shift to knowledge and technological economy from oil economy has come,” Kudrin said.

He thinks that Russia stays behind other countries in digital technological regulation and state management: “Currently, there is a high demand for a new quality of the state regulation.” 

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