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Russia's oil and gas revenues will fall to 13% of gross domestic product (GDP) in 2020 from 17% of GDP in 2009, Finance Minister Alexei Kudrin said on Thursday.
"Income from the oil and gas sector amounted to 17% of GDP in 2009, while in 2020 they will only be 13% of GDP meaning the sector will shrink and will not produce the same amount of GDP income," Kudrin told the Audit Chamber.
Oil and gas output is falling and is not expected to grow insignificantly, he said.
MOSCOW, December 9 (RIA Novosti)
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Russia has surged ahead on the foreign policy stage, but this is not enough to remain a great power. The tough-minded policies and masterful diplomacy of Russia’s leadership have maximized the country’s position in the world, and are now the main source of its international influence and prestige. Russia’s foreign policy in the next decade depends entirely on what happens at home.