We have a duty to help Armenia in the fight against the aggressor - Anne-Laurence Petel European Council's Political and Security Committee Members to visit Armenia Armenia government makes allocations to hold events for Parajanov, Aznavour 100th birth anniversaries Yerevan ex-mayor Hayk Marutyan is founding political party ‘Europeans for Artsakh’ discusses upcoming actions toward protecting Karabakh’s interests Consistent support to 16 Armenian Educational Institutions Operating in Lebanon Secretary Blinken and USAID Administrator Power will join a U.S.-EU trilateral meeting with Armenia Argentina’s Milei bans gender-inclusive language in official documents RA NA delegation meets with UAE delegation within the framework of 148th Assembly of Inter-Parliamentary Union Ucom launches network modernization efforts in a few regions of Armenia 

European economy lost $50 billion due to sanctions against Russia — Medvedev

Political

Russian Prime Minister Dmitry Medvedev is taking part in the annual television program Conversation with the Prime Minister, which has begun at midday on Wednesday. He is expected to analyze the outgoing year and share the government’s plans for the coming year with the audience.
The Russian government may revise the 2015 budget amid unfavorable external and internal economic developments, Prime Minister Dmitry Medvedev said in an interview with Russian TV channels on Wednesday.
“If economic conditions change significantly, we’ll have to revise the scenarios (for the country’s social and economic development) and finally have to make a decision on the budget,” Medvedev said.
“But we are not doing this so far,” the premier said.
The federal budget is based on a particular scenario, which may change, the premier said.

On falling oil prices
‘We’re watching together with you the developments on the oil market,” the premier said. Late last year, world oil prices stayed at $110-115 per barrel whereas now the price is $65-70, he said.
Therefore, the price has halved, he said.
This factor “has caused a whole number of significant consequences, primarily those related to the ruble exchange rate,” Medvedev said.
According to Dmitry Medvedev, oil prices and sanctions against Russia in connection with the situation in Ukraine affect the ruble.
Medvedev is confident that Russia must get off the oil needle in the long run, although reserves received from oil make it possible to overcome the current situation.

On consequences of sanctions
The Russian prime minister went on to say that Western sanctions imposed against Russia caused the Russian economy several billions of dollars in losses, while the European economy lost €40 billion (almost $50 billion) this year and is likely to lose €50 billion euros ($62 billon) next year.
“No one ever underestimated damages caused by the sanctions,” Medvedev said in an interview with leading Russian television channels. “Their cost for the economy totals billions of dollars.”
“Our (Russian) economy probably lost tens of billions of dollars,” Medvedev said. “The European economy, according to experts, fell short of €40 billion this year and is likely to fall short of €50 billion next year.”
“Therefore, sanctions are not beneficial for anyone, they are not necessary and would lead to nothing,” the Russian premier added.
Medvedev said that sanctions were not something new for Russia as other sets of sanctions were earlier in force against the country and the Soviet Union as well.
The premier recalled in particular the Jackson-Vanik amendment, passed by the United States against the USSR in 1974, that “hit hard not only our country, but backfired the United States and their satellites as well.”
“On the whole, we lived in the 20th century under conditions of permanently imposed sanctions,” Medvedev said. “Who benefited from it? No one! The development of countries (hit by sanctions) continued in line with earlier stated plans.”
“This is a lesson we must learn from the current situation,” Medvedev said adding that the lesson must be first of all learnt by “our partners as it was not us (Russia), who introduced the sanctions and it is not us, who must abolish them.”
“We were all well aware that the sanctions, which, by the way, were imposed by foreign states contradictory to the international law, will be detrimental to our economy as well as to the economy of those (states) imposing them,” Medvedev said adding that decisions on sanctions were always of the “double-edged nature.”

“The sanctions turned into an occasion for us (Russia) to think about the import substitution, and not the import substitution alone, but about the development of qualitative and competitive products,” he said. “This is the challenge, which we must be up to.”
He went on to say that Russia will be able to provide oneself with its own foodstuffs in several years and foreign products will be unnecessary.
“We’re able to fully give up unnecessary import in the mid-term,” Medvedev said.
“Nobody has ever said we’ll reorient our agriculture towards Russian producers in six months. But the positive sign is that shops’ shelves were filled with Russian goods,” he said.

On weakening ruble
World oil prices and western sanctions against Russia are affecting the ruble exchange rate, Prime Minister Dmitry Medvedev said.
“It is obvious that the ruble exchange rate is affected by a whole number of factors,” Medvedev said. “First of all, this refers to oil prices,” he added.
World oil prices have almost halved and this could not but affect the ruble, the premier said.
Western sanctions imposed against Russia are the second factor affecting the national currency, the premier said.
“Sanctions of this kind all the same create certain expectations, as financiers say, and these expectations affect the sentiments of both companies and citizens and this factor exerts pressure on the ruble in one way or another,” the premier said.
Dmitry Medvedev went on to say that a dramatically weakening rouble was unprofitable for Russian economy in the long-term prospect.
“In the long-term prospect I would say that obviously a considerably falling ruble rate is unprofitable for our economy. Moreover, most economists and analysts share the view that at the present moment the ruble is weakened too much, so, it is understated,” the prime minister said.
According to him, this is the result of the oil prices and negative expectations. “In this sense it’s obvious that some reevaluation will take place,” Medvedev said. “I don’t know if this will happen this month or in a month, but in any case a certain balance will be reached.”

The prime minister said that the devaluation of the ruble is strategically disadvantageous for the state.
However, he urged the Russians to be patient and act similar to 2008 when ruble rate firmed after fall.
Dmitry Medvedev advised Russian citizens in the crisis conditions not to make hasty decisions, including on the exchange of their ruble savings for foreign currency. “This often results in the loss of money,” he said in an interview to five Russian TV channels.
“When such economic problems arise the main thing is not to make hasty decisions, it is necessary to calmly follow the developments and plan the priorities with taking into account what you have,” he said. “If a person has some savings, he has the right to act as he pleases,” the prime minister said. “But the experience of the previous crisis — and people rarely use it, such is human psychology, has shown that the attempt to transfer the savings into foreign currency often results in the loss of the money.”
That is why the prime minister himself, he said, keeps his savings in the national currency. “I, naturally, keep my money in roubles and get my salary in roubles,” he said. “The rouble rate fluctuation or weakening also affects the assets I receive, the same as the assets of all our citizens.” “We are all in the same boat in this sense,” Medvedev said.
The Russian government is going to adjust pensions and salaries of state employees, Medvedev added.

On economical prospects of 2015
This year’s results for the Russian economic development are controversial, but the main thing is that the budget system is balanced, Russian premier said.
The 2008 financial crisis has still not ended both for global and Russian economy, the premier said.
“Nevertheless, we have managed to come to a positive result,” he said. “We will have a GDP growth this year. It is important, particularly if to compare with other countries,” he added.
Some indices will be lower than planned. The inflation rate will exceed 9%, though other levels were expected, Medvedev said.
This year’s results have been achieved "not at a low cost", he noted. “We had to give up some programs.”
The Russian prime minister said that the government partners with major exporters over steady sale of currency revenues.

On business taxation
The Russian government is not planning to impose any additional taxes on business, the prime minister said.
“We are not going to impose any levies, especially in such amounts mentioned in the media,” Medvedev said.
The Russian premier said that only a trade levy would come into force from mid-2015 in three Russian cities — Moscow, St. Petersburg and Sevastopol and its size would be set by the regional authorities.
“This does not mean anything disastrous for small business,” the premier said.
“If we feel that there is some extremity, we’ll adjust it,” the premier said.

Հետևե՛ք -ին Youtube-ում`
We have a duty to help Armenia in the fight against the aggressor - Anne-Laurence PetelEuropean Council's Political and Security Committee Members to visit ArmeniaAbu Dhabi plans to create paradise for gamers: World's first eSports islandNature Neurology: Chemicals in baby wipes can damage brain structures, study showsArmenia government makes allocations to hold events for Parajanov, Aznavour 100th birth anniversariesArmenia to provide $300,000 to Japan for earthquake reliefArmenia MP: Euronest called on EU to increase humanitarian, financial aid for forcibly displaced Karabakh childrenQatar Airways has introduced first virtual flight attendant operating in AIYerevan ex-mayor Hayk Marutyan is founding political party‘Europeans for Artsakh’ discusses upcoming actions toward protecting Karabakh’s interestsKim Kardashian is sued over furnitureForeign firms' losses from exiting Russia top $107 billion: ReutersConsistent support to 16 Armenian Educational Institutions Operating in LebanonPutin says Russia will not attack NATO countries, but F-16s will be legitimate targets “wherever they might be located”Pashinyan: Some circles forcibly displaced from Karabakh are taking steps that create threat to Armenia’s securityState Department disagrees with Azerbaijan comments on upcoming US-EU-Armenia meetingNo official versions of Crocus City Hall terror attack voiced yet, PeskovNewspaper: Generals are gone, Armenia PM has decided to hand over some Tavush Province settlements to AzerbaijanDeath toll from Crocus City Hall attack reaches 143Secretary Blinken and USAID Administrator Power will join a U.S.-EU trilateral meeting with ArmeniaVolvo launches its last diesel carRevisit the Tom Hanks Oscars acceptance speech that Spielberg called ‘incredible’CONCACAF Nations League final between US men’s team and Mexico stopped twice by ‘discriminatory chanting’Argentina’s Milei bans gender-inclusive language in official documentsLukashenko undermines Putin’s Ukraine claim on Moscow concert hall attackSteven Spielberg: ‘The echoes of history are unmistakable in our current climate’Russia MFA spox: We do not use the term ‘Zangezur corridor’Armenia does not join CSTO statement condemning terrorist attack in Moscow RegionWhich Samsung smartphones will receive AI functions tomorrow?Deputy Speaker Hakob Arshakyan discusses Yerevan-New Delhi direct flights with Indian counterpartCentral Bank of Armenia: exchange rates and prices of precious metalsRA NA delegation meets with UAE delegation within the framework of 148th Assembly of Inter-Parliamentary UnionUS and South Korea want to block oil supplies to North KoreaCharity dinner: “Successful Businesswomen Support Novice Women Entrepreneurs”Parliament speaker: No part of Armenia territory is subject to negotiationFrance-Armenia friendship group of National Assembly of France visited Armenian Genocide MemorialAraratBank places its 27th issue of dollar bondsUcom launches network modernization efforts in a few regions of ArmeniaEU and US will share responsibility for any destabilizing action: HajizadaNumber of those injured in Moscow attack rises to 360US State Department warned Israel of international isolation if it launches a large-scale operation in RafahStart of dialogue on visa liberalization between Armenia and EU will be important step for deepening relations: Friends of Armenia Network reportWashington's goal is to help Armenia and Azerbaijan achieve lasting peace. MillerPalestinian death toll from Israeli attacks in Gaza climbs to 32,414: ministryEU mission presented situation in Gegharkunik to French delegationOil Prices DownTigran Balayan to Toivo Klaar: Azerbaijan is gearing up for new aggression against ArmeniaXiaomi unveils cheap smartphone Poco C61, which has flagship designFrench Ambassador to Armenia reminds about right of return for Nagorno-Karabakh ArmeniansLukashenko briefs on Belarus’ role in detaining Crocus City Hall attackers
Most Popular