Medvedev: Russia needs structural reforms to restore econ growth

MOSCOW, Jan 12 (PRIME) – Restoring Russian economic growth is impossible with only monetary and budget policy measures, because the country needs structural reforms, Prime Minister Dmitry Medvedev said Thursday at the Gaidar Forum.

“It is evident that there is a common problem which has been spoken about here, and this is a risk of long-term stagnation. It is obvious that we cannot restore normal growth simply with measures of the monetary and budget policy, we need serious structural reforms. Even though we have been speaking about it for the last 15 or so years,” he said.

“Nevertheless, given all the aspects of our country, these priority directions are almost identical and they are connected with the development of human capital, development through education and healthcare, improvement of the business climate, and development of infrastructure in the first place.”

End