MOSCOW, Feb 26 (KUNA) -- Russian Deputy Prime Minister and Finance Minister Alexei Kudrin said here on Thursday that oil prices will not return to normal over the next five years.
In a statement carried by Interfax, Kudrin attributed that to the lower oil prices and declining demand in world markets.
The drop in oil prices will lead to an imbalance in the Russian budget, he said, referring to the possibility of addressing this imbalance by reducing debt or increasing taxes, to attract investments in the coming years.
He pointed out that the volume of capital that came from Russia last month amounted to USD 40 billion, compared with USD 130 billion during 2008, adding that the country's reserves of hard currency and gold last year plunged by USD 200 billion.
Copyright Kuwait News Agency 2009.
