The time in Russia has been kind of a big time since the end of the Cold War, according to one of Russia’s most prominent business leaders.
Rising gas prices, a strong ruble and a string of economic and political reforms have made the country more attractive to foreign investors, including many in the world’s biggest economy.
Rostislav Surkov, the founder and chief executive of Rosneft, a state-owned oil and gas company, said in an interview last month that he had no doubts about the success of the Russian economy.
But now he thinks the country needs to adjust its economic strategy.
“Russia needs to be very, very flexible,” he said.
“It needs to grow.”
Surkov is one of a handful of businessmen who say they would consider leaving the country if the current economic crisis continues.
His comments came at a time when the Russian government has stepped up efforts to stimulate the economy and revive its battered manufacturing sector.
The Kremlin has pledged to lift the country out of recession in 2017, when it faces an economic crisis similar to that experienced in the United States and elsewhere.
But many Russians are worried about the country’s economic performance.
Last month, Russian President Vladimir Putin said he was worried about Russian economic growth.
But Surkov says he doesn’t think that will be the case.
“I don’t think the Russian will have to be more flexible,” Surkov said in the interview with Bloomberg TV.
“We will see how this all shakes out.”
Surkv has been among those who have warned of the risks of a sudden economic crisis, but Surkov’s optimism is tempered by concern that the country may soon find itself without its biggest export, energy.
The price of oil has surged above $100 per barrel in recent weeks, making Russia’s economy vulnerable to economic turmoil.
Oil, Russia’s largest export, accounts for roughly 60 percent of Russia ‘s economy.
It is now down by more than half to less than $28 a barrel.
Some analysts are warning that the government could soon impose heavy restrictions on imports and impose a price cap on food, and that the central bank might hike interest rates.
Russia is currently on track to overtake China as the world ‘s largest oil producer by the end, overtaking Saudi Arabia in 2019.
But many in Russia say the country has been a victim of a global economic slowdown that has put a damper on its hopes for the future.RBC Capital Markets analyst Peter Svidler said Surkov would be more concerned about the economic situation in Russia if the country were not as diversified as it is today.
“The Russians are more reliant on oil, and I think they are more worried about gas than they are about oil,” he told Bloomberg TV last month.
“I think this is a very, strong indication of the need for a change in policy.”
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