“The economic situation is quite problematic to say the least. Therefore, all of the members of the government must hold key meetings in the areas that they coordinate, as we have already agreed,” Medvedev said during a meeting with his deputies.
“This should be done regularly,” Medvedev added.
Russia's economy is currently suffering due to a sharp decline in oil prices, with the country's budget being largely dependent on energy exports. The fall in prices was triggered by the decision of the Organization of the Petroleum Exporting Countries (OPEC) not to cut oil production.
As a result, the Russian ruble has plummeted drastically recently, hitting historic lows. Russia's Central Bank predicts a 10-percent inflation rate in the first quarter of 2015, and the country's GDP will decline by 0.8 in 2015, according to the Russian Ministry of Economic Development.
