Ulyukayev: Russia's economy becomes more resistant to oil shocks
The Russian economy has shown itself to be more adaptable to the shock on the oil market in the second half of 2015, the Russian Economy Minister Alexei Ulyukayev said.
"Now we are going through the second oil shock," he said.
According to him, the first shock was during a sharp devaluation of the national currency and a 2.5% rise in inflation. The second wave did not cause a further devaluation, the annual inflation rate dropped to below 8% of the corresponding period in the last year.
"The Russian economy has shown a high degree of adaptability," the head of Ministry of Economic Development noted.