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Medvedev calls for new approaches to economic development in regions

The development of Russia’s economy should be spurred by “a new approach to economic development in regions”

Фото ИТАР-ТАСС/ Дмитрий Астахов

Фото ИТАР-ТАСС/ Дмитрий Астахов

MOSCOW, September 27 (Itar-Tass) - The development of Russia’s economy should be spurred by “a new approach to economic development in regions”, Prime Minister Dmitry Medvedev said in an interview with the business daily Vedomosti published on Friday, September 27.

“Russia’s strength lies in the diversity of its regions. We should identify potential points of growth and give them targeted support,” he said.

The prime minister noted that in recent years the pace of economic development in regions had not depended on natural resources. “The main factor is the ability of regional leaders and local elites to advance their territories without waiting for help but by garnering support for their initiatives both in society and under stimulating federal programmes,” Medvedev said.

“By acting together, we can move away from the policy of maintaining employment rates by all means, irrespective of economic considerations, which is a typical and often justified practice during crises. Naturally, these measures should be taken carefully, but social stability is guaranteed by creating conditions for professional growth, not by preserving bygone practices,” the prime minister emphasised.

“Preserving social stability and modernising the economy are interrelated, not mutually exclusive processes,” he added.

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