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No alternative to innovative development

October 14, 2013, 15:56 UTC+3
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MOSCOW, October 14 (Itar-Tass) - Russia has no alternative to innovative development, Deputy Prime Minister Arkady Dvorkovich said.

The use of accumulated reserves can produce a certain effect in the medium term, Dvorkovich said.

“One can throw money and effect the desired growth. But then this will lead to bigger decline,” the vice-premier said.

By using reserves the government will act accurately. “We have reserves and we’ll use them to implement major investment projects and back small- and medium-size business. Totally, this can incite the economic growth within several months,” he said.

“There is no way, besides modernisation, based on the scientific and technological achievements. Modernisation will help us reach the high rates of economic growth,” Dvorkovich said.

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