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Present Structure Of Russian Economy Has No Future - Medvedev


Russian President Dmitry Medvedev says Russian economy will have no future unless its structure is changed.

"Russia needs to move forward, and there is no such movement so far. We mark time, and the crisis showed this strikingly," Medvedev said at the meeting with heads of Duma parties

He said the Russian economy had been growing in conditions free from crisis with normal market-determined prices. "The crisis that broke out caused the crash, which was more severe in Russia than in many other countries," the president said.

He said the reason is that the structure of the Russian economy based on raw materials remains constant. "This should not continue. This is a dead end. The crisis faced us with such conditions when we will have to make the decision to change the structure of the economy. Otherwise our economy will have no future," Medvedev stressed.

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