OREANDA-NEWS. December 2, 2008. Despite economic instability worldwide the Russian economy has achieved expansion (7.5%), first vice PM Igor Shuvalov said at a meeting with Russian President Dmitry Medvedev held in the presidential residence outside Moscow. The first vice PM acknowledged that the Russian economy is definitely sensitive to fluctuations in oil and gas prices, "and these figures, of course, lead to much more modest results". "But as for all the macroeconomic targets we set early in the year, they’re being met" – Shuvalov emphasized noting that 7.5% is the average rate of growth that has been recorded in Russia in recent years.