- Central bank forecasts 5 pct 2011 GDP growth
- Russia to cap annual defense budget at 2.8% GDP for next decade
- Russia should limit 'non-energy' budget deficit to 4-5% of GDP in 2012-2014 - Kudrin
- Russia's tax burden to grow by 2 pct of GDP over lack of reform warns Kudrin
- World oil prices may fall to $60 per barrel in three years warns minister
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)
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Yury Gagarin: Life of the First Man in Space in Pictures
Infographics: History of the Paralympic Games
We have witnessed the total defeat of western Ukraine, Western nationalists and the West in general, which made the unfortunate decision to support the anti-government activity. They failed to realize that the collapse of Yanukovych means the collapse of Ukrainian unity. They set fire to their own home and planted a time bomb under Ukraine’s territorial integrity.