PM sees foreign investment as secondary source for development - Business Wire - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

PM sees foreign investment as secondary source for development

MOSCOW, Dec 6 (PRIME) -- Russia does not need to rely on foreign investment in its development since the economy has become stronger since the 90s, Prime Minister Dmitry Medvedev told TV channels at a yearend interview on Thursday.

I guess, anyone who is even slightly interested in economic development understands a simple thing: a national economy can develop first of all by means of own investment, investment arising from the development of the economy. Foreign investment, with all due respect, with the desire to get them, are a secondary source, Medvedev said.

In the 90s we used to say all the time, We are waiting for this company. It would be good if it came. We offered preferences. This was absolutely normal, because our economy was poorly developed. Our economy collapsed after the end of the USSR. The situation is different now.

Russias gross domestic product (GDP) growth amounted to about 1.7% in JanuaryOctober, but the authorities still plan to attain a 3% rise in 2021.

This is a figure that weve expected. It is small, yes, but nevertheless growth continues, it more or less corresponds to what we have in the European countries for instance, Medvedev said.

Ours is the economy of a fast developing country, this is why we should focus on our own development sources.

He said that he sees 2018 a good year for the economy of Russia.

He added that the 1.7% growth is unsurprising amid a global slowdown in economic rise due to the trade war. The economic haggle between Russia and several other states continues and hurts the Russian economy.

Inflation is to amount to about 3.5% in 2018, meeting the target, Medvedev said.

He said that the conservative forecasts by the Russian authorities created a safety cushion for the Russian economy. We have just met in the framework of the Eurasian union, I say, Listen, we did it right when we made the most conservative oil forecast. We are revising everything downwards in order for the economy to have a safety cushion. Our economy has a safety cushion thanks to these decisions.

Medvedev said that a decision to raise the retirement age was the most difficult one for the government in decades. It was obviously a difficult decision. Lets say frankly, it was the most difficult decision of the authority over the last several decades.


06.12.2018 13:07
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 71.8369 -0.0058 24 may
USD 64.4913 +0.0757 24 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1275.42 -1.34 18:50 23 may
micex 2618.61 -0.76 18:50 23 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 208.86 +0.37 18:49 23 may
lkoh 5275.00 -0.80 18:48 23 may
rosn 417.05 +0.74 18:49 23 may
sber 229.30 -2.78 18:49 23 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 72.0225 +0.3125 14:59 23 may
USDTD 64.8200 +0.5275 17:44 23 may