UPDATE2: Minister: Russian economy enters active growth phase

(Adds comments by RDIF CEO in last four paragraphs)

MOSCOW, Apr 5 (PRIME) -- The Russian economy has already entered a phase of active growth, Economic Development Minister Maxim Oreshkin said at a forum on Wednesday.

“We are talking about the fact that the economy is not on a way to growth, it has already entered the new phase of the economic cycle and is growing more actively,” he said.

Oreshkin also said that the economic policy should be aimed at attracting investments.

“A higher level of economic growth, more stable growth can be reached only through active private investments. And it is necessary to search ways to bring investments to a new level,” he said.

Among other ways to support investments, it is necessary to create stable predictable conditions for business, support exports, ensure necessary financing and have highly-qualified personnel, he said.

The Russian Direct Investment Fund (RDIF) Kirill Dmitriev said that foreign investors now seek to enhance investments in the Russian economy.

“It is very important that Russia has entered a growth trajectory. Investors have highly estimated actions of the central bank and the government during the crisis, because there were apocalyptic forecasts that the banking system will crash with those challenges that were at that moment,” he said.

“That’s why now investors want to invest more, but it is important for them to understand that the government aims at growth, at investments and right motivation,” he said.

“As far as growth is concerned, we are probably the most optimistic, we expect growth of around 2% this year. This is connected with the fact that oil prices have stabilized, are they are actively stabilized by joint actions of Russia and Saudi Arabia and OPEC states,” he added.

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