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Global oil market slump key threat to Russia - Mr Medvedev
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Sunday, 27 Jan 2013
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RIA Novosti reported that the danger of a global slump in the raw material markets remains a key threat to the Russian economy.

Mr Dmitry Medvedev PM of Russia said that means the Russian economy remains vulnerable to negative changes in global markets, the premier told the World Economic Forum in Davos.

He said that that is why we continue to be concerned over stagnation and the banking crisis in Europe, debt problems in the US and China’s structural risks. This theme without doubt will be at the center of attention of the G20 Group during the whole of this year.

Russia took over the rotating G20 presidency on December 1. Russian G20 Sherpa Ksenia Yudaeva previously said the theme of investment driven growth would underpin Russia's presidency.

Mr Medvedev said that Russia is not interested in excessively high world raw material prices because they impede the development of both the Russian and global economies. But too low prices lead to the other extreme: a shortage of resources to ensure sustainable economic growth. Today’s oil price level is more or less close to optimal both for producers and consumers.

Source - RIA Novosti


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