PM of Norway suggested Russia diversifying the economy that depends on oil price

​In the conditions of the continual oil price fall and ambiguity in the world markets, Russia had better follow the example of Norway and focus on the diversification of its economy, the PM of Norway E. Sulberg, said.

Norway has done thing which is extremely important in the long-term perspective. We don’t transfer the entire income (from the oil and gas sector) to the budget, and the amount paid to the budget is spent on the diversification of national economy, she said. It is extremely important to found new types of business, working places in other sectors, contribute much into the scientific research so as to have other spheres of industry after the completion of the oil and gas epoch.

According to Sulberg, this example can be used by all oil countries.

Oil and gas are non-recoverable resources, sooner or later their reserves will be exhausted. By that moment the basis of economy should be significantly expanded. All countries – oil and gas producers should have such a goal.