"If a reasonable policy is pursued, it is possible to pay off all foreign debt within the next few years," Illarionov said.
He noted that Russia's gold and foreign currency reserves currently amount to $140 billion, and the Stabilization Fund stands at $30 billion, while the foreign debt runs into $110 billion."
"Comparison of these figures proves that there is no problem in paying off foreign debt," Illarionov said.
He specially stressed that Russia's financial situation is currently "more stable and strong", but said that the entrepreneurial sector in Russia still remains weak.
"The development of the entrepreneurial sector in Russia ensured the economic growth that allowed the country to reach its current state, but the entrepreneurial sector and, on the whole, the entrepreneurial class in Russia continues to remain weak," he said.
However, Illarionov did say that the situation might be changing for the better.
"During the past several months, authorities have been taking actions directed at partly compensating for the damage done in 2003-2004, but these moves have not been well-grounded and convincing enough to say that the damage has been fully surmounted," he said.
Illarionov also said that the GDP has been growing in Russia at a rate that ensures its doubling within a decade.
During seven years of economic growth in Russia, the GDP per capita has gone up by 52%, with the average annual growth rate making up 7.2%.
