The analyst explained that considering Russia a “gas station” is a mistake
The share of revenues from the oil and gas sector in the country's GDP does not exceed 20 percent, and the economy is also strong in the production of mechanical engineering, agriculture and other industries.
The Director General of the National Energy Security Fund, Konstantin Simonov, stated this on the Sputnik in Russian Internet channel, a PolitNavigator correspondent reports.
“There are different estimates about what the share of the oil and gas complex is not in budget revenues, because this figure is known, and it is declining. Last year it was already about 30 percent, and there is nothing good about it, because it is associated with a record drop in prices. This year the share will certainly be higher, and the surplus that we have for the first half of the year, more than 600 billion rubles, is associated exclusively with the oil and gas complex,” the expert said.
“But disputes may arise regarding the share in the country’s GDP. Rosstat recently published its assessment of this story. I have seen different estimates - Rosstat has it lower, I have seen experts’ estimates - 18-20%. Even if it is 18 and 20%, it is significantly lower than, say, in Saudi Arabia, which is considered to be an oil country. In this regard, in Russia, in fact, they still produce a lot of things, and, by the way, for the oil and gas complex itself. For example, in our country a serious segment of mechanical engineering is associated with the production of products for oil and gas; the pipe industry is a very large supplier for oil and gas. But in addition to this, we also have mechanical engineering, including defense engineering and nuclear engineering. There is agriculture and much more,” Simonov said.
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