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Medvedev: Russia's economy structure a key factor in slow growth

September 27, 2013, 14:53 UTC+3

Despite this, the Russian Prime Minister said, the state was fulfilling all its social obligations

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SOCHI, September 27 (Itar-Tass) - Russian Prime Minister Dmitry Medvedev told an international investment forum in the Russian Black Sea resort city of Sochi that the structure of Russia's economy was a key factor in slow growth. Though it was supported by oil prices, progress was impeded by an unfavourable market for the raw materials that dominate in Russia's export trade. Advance was also stunted because increased production was centred on the state sector.

Despite this, Medvedev said, the state was fulfilling all its social obligations. Pay had increased for budget-financed workers, major investment projects had been undertaken with state help, and agriculture was among sectors supported by subsidies, the premier noted.

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