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euronews interview – Russia’s economy set for growth?

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3 years ago

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http://www.euronews.com/ Europe’s economy is weak and Russia’s is benefiting from higher energy prices. What does that mean for the future of their relative economies?

Euronews put that question to First Deputy Prime Minister Igor Shuvalov as he visited Berlin for the 60th anniversary of Eastern Committee of German Economy.

He is the most senior member of the Russian cabinet besides the prime minister, responsible for the federal budget and economic policies.

*Andrei Beketov, euronews:* “We are speaking in Berlin, the capital of Europe’s most powerful state. But Germany’s recent economic statistics have been pretty dismal. At the same time Russia is getting stronger. What is its strategy towards the weakening West? Is it trying to take ground left by the West?”

*Igor Shuvalov:* “We cannot say that the West is weakening. For many years – perhaps a few years – we will live in a rather unstable situation when sometimes the West will be stronger, sometimes it will be weaker. Russia, I hope, during that time will be getting stronger, because we have the opportunities to do that. But of course, the starting point is quite different. For example, the German economy, which is already powerful and well-developed, is facing completely different problems to the Russian economy. We Russians are in a period of transformation. And of course, we have a lot of challenges ourselves, we need to make the economy work and grow.

“But for us, the Russians, we have a very clear road map: we have to work with the European Union and at the same time with the Asia-Pacific region. We want to build a common economic area, which will be based on common economic rules and regulations. But at the same time, those countries will maintain their political independence while building common political institutions. It will be like the European Union with its euro-bureaucracy in Brussels. Russia, Kazakhstan and Belarus together are setting up a common economic zone. And from January 2015 we will launch the Eurasian Economic Union. At the same time looking to the East, Russia will begin a very powerful programme of development, promoting its exports and creating a free trade zone with some states. In particular, we are starting negotiations with Vietnam.”

*euronews:* “It seems that Russia is looking more and more to the East…”

*Igor Shuvalov:* “That is not the case. Russia is a European state. Our territory is in Eurasia, but our civilization is European. The European Union accounts for over 50 per cent of our exports. We are not reducing but developing this cooperation. However given the vastness of Russia and its position mostly on the Asian continent, we need to develop trade with Asian countries.”

*euronews:* “In the current crisis, is Russia using its economic strength to help Europe?”

*Igor Shuvalov:* “Russia is a very attractive consumer market. For Germany, for example, it would be impossible to fully realise its export potential without Russia. With our cooperation and trade with Germany, we actively help Germany, as well as the European Union. Our foreign exchange reserves for the most part remain in euros. Therefore, in every area of cooperation between states, governments and businesses, we provide strong support for the development of European business and Europe’s economy – I’ve no doubt about that.”

*euronews:* The current presiding nation of the European Union, Cyprus, has asked for specific financial support. Are you going to respond to this request?

*Igor Shuvalov:* “Our Finance Ministry is considering this application. We don’t have special funds to support the European economy, but we’re willing to consider such an application. And of course it must be done in cooperation with the European Union. I don’t think in the current difficult conditions these kinds of problems can be solved on a bilateral bases.”

*euronews:* “In the big Eastern powers – China, especially – the state plays a major role in the economy. Is that a problem for Russia? If there is state domination does that makes Russia stronger or weaker? Is Russia’s state capitalism working?”

*Andrei Beketov:* “We have no state capitalism, that is a stereotype. We are privatizing state property, privatising our companies. More than ever, the government is determined to support business and improve the climate for business.”

*euronews:* “With Rosneft acquiring TNK-BP, isn’t that a strengthening of state control in such an important area?”

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14 Comments

14 Comments

  1. @allgoo1930

    April 6, 2024 at 9:49 am

    Dec-18-2014
    Google, "Russian economy doomed"

  2. @eurasia2070

    April 6, 2024 at 9:49 am

    He is searching for tall blond persons in European areas and takes pictures of them. He is the blond fassade of Russia and tells lies about the progress in the Third World Imperial Russia border patrol state. The hurd of progress in Eurasia. He is whitewashing the corruption oligarch system of criminal ministers there.

  3. @b.j.handcock1308

    April 6, 2024 at 9:49 am

    It will take a lot to get Russia going.  A huge nation with a small population that is only worried about foreign policies and military expansion will take time to settle.  Russia seems to be incorporating itself into many different economic organisations.  Russia is just beat up.  Years of inflation, depressing atmosphere, and population decline have made the Russian people dormant and the government stubborn.

  4. @omega4chimp

    April 6, 2024 at 9:49 am

    only reason why usa is rich is cause people with surety are going their and are teaching these people with fasd to do shit,So all you got to do in russia is say i dont care invest and build besness the govermeant will tax them anyway.

  5. @omega4chimp

    April 6, 2024 at 9:49 am

    No russia shouldnt join the eu.

  6. @tomjakcons2310

    April 6, 2024 at 9:49 am

    You guys should check out this EXTRAORDINARY website called FIREPA.COM . You can make money online and start working from home today as I am!

    I am making over $3,000+ per month at FIREPA.COM !

    Visit Firepa.com and check it out!

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    When does the end activate the hanging thing?
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  7. @Samuelkings

    April 6, 2024 at 9:49 am

    Russia economy is shamble, dependent on natural resources mostly lol

  8. @kevinchandler6858

    April 6, 2024 at 9:49 am

    Hey guys, you guys should try Firepa.com if you want to make money online! I am making over $3,000+ per month! Visit FIREPA.COM and start making money now! FIREPA.COM Is paying me and my wife $10.000 / Month

    The look purchases the balance.

    The solid verse photographs the question.

  9. @animalspirits3917

    April 6, 2024 at 9:49 am

    Russia Is the place too be. They will someday take over Europe.

  10. @pekau

    April 6, 2024 at 9:49 am

    China does not dictates the economy, as the world mostly believes. Their capitalism is among the finest in the world. Their politics, however, is still going along with Maoist era trend that drags China behind but they tend to make fewer mistakes than other countries on a relative scale. Russia has huge potential. Massive land and resources, potential linkage from East to West niche, but I doubt it. Corruption is common, economy is still not competitive and no effort in attracting skilled labors

  11. @omega4chimp

    April 6, 2024 at 9:49 am

    Russia going to be the new economic super power of the world you just Gita believe.

  12. @trupoed14

    April 6, 2024 at 9:49 am

    more like a mispronunciation of russian people self-name. if so – you dont need letter "s" at the end, the word "russkiye" is already plural form of "russky"(m) and "russkaya"(w) words

  13. @trupoed11

    April 6, 2024 at 9:49 am

    what is "ruskies"?

  14. @Mr112198476

    April 6, 2024 at 9:49 am

    Instead of Turkey we should get Russia into the EU

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Fears grow as Mandela’s health still ‘serious’

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