Dvorkovich sees growth in some Russian industries soon
Some Russian industries are expected to experience growth in the upcoming months, Arkady Dvorkovich, an assistant to the president, said in an interview with Russian magazine Itogi published Tuesday.
"We believe that the difficult (economic) situation will last two years, with commodity prices remaining relatively low and output (figures) staying small," he said. "However, in some industries, growth is expected in the upcoming months."
Dvorkovich said that growth was expected in industries focused on domestic demand, such as the housing construction and infrastructure sectors. He added that the government was seeking to support these industries.
Commenting on fiscal policy, Dvorkovich said that the government would cut spending in 2010-2011 if it became clear that the ongoing crisis would last for more than three years.
Dvorkovich also outlined his position on foreign exchange rates. He said that he believed major fluctuations in the ruble`s exchange rate were unlikely unless commodity prices rose or fell by more than 10%.
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