Russian president urges to be ready for protracted period of low oil prices (UPDATE)
details added (first version posted at 14:50)
Baku, Azerbaijan, Dec. 24
It is necessary to be ready that the period of low prices for raw materials exported from Russia and external constraints may be delayed, Russian President Vladimir Putin said, RIA Novosti reported.
"We must achieve results on the existing base," the president said. "The current difficulties must be an incentive to improve the efficiency of the economy and social sphere."
President Putin also urged the government to curb the speculative price increase in Russia by every possible market-based tools.
"Today the speculative price increase reduces the living standards of people," the president said. "We must use all available market tools to curb rising prices, expand the share of low-cost but high-quality domestic goods."