OREANDA-NEWS. Transcript: Dmitry Medvedev: Dear colleagues, here are some issues I’d like to begin with: first of all, the budget for the next three years. Let’s start with the scenario for the development of the economy and the social sector. This is based on long-term, until 2030, and mid-term forecasts. This report includes an evaluation of the potential dynamics for key indicators including the gross domestic product, oil prices, the value of the rouble, inflation and investment levels.

Three scenarios have been forecast. Mr Belousov (Andrei Belousov, Economic Development Minister) will explain them. One is conservative, one moderately optimistic, and the third is more aggressive. The ultimate goals are generally the same for all the three. The global economy is expected to begin to gradually recover with an annual growth rate of nearly 4%. The price for Urals crude will be about USD 100 per barrel. Competition in several energy markets, including the gas market, is increasing, which is also taken into account. The difference in the scenarios is in the strategy of conducting business, and the efficiency of state policies, including limits on budget expenses.

Another variable is the demographic situation.