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Kudrin predicted that Russia will be on the fifth place of GDP after 10 years

Kudrin predicted that Russia will be on the fifth place of GDP after 10 yearsDuring the nearest ten years Russia will improve the indexes and will be the fifth economy of the world. According to RIA News, ex-minister of finances Mr. Aleksey Kudrin declared this during the forum of “Russia-2012″. According to the opinion of ex-minister, in the nearest decade Russia will become one of the largest suppliers of equipment, machines and innovations to the world market.

Mr. Kudrin marked that Russia had already entered to the “number of economies that approach to developed”, and the stake of oil and gas sector in GDP of country will grow short “without our forced participation”. He forecasts the decreasing of stake of oil and gas complex in an economy from 22-24 percent to 17 percent during ten years. “We will not always be a raw material sector”, – an ex-minister of finance said, marking that non-oil and gas industries will develop quicker.

At the same time, Mr. Kudrin reminded that for realization of it, the reforms are needed, including public sector and legal system, and also improvement of investment climate. In addition, he considers that during the nearest three or five years a “jump” is impossible. Mr. Kudrin explained his position by the necessity to create the new institutes of market, legal system and state administration qualitatively.