Putin slams alleged dependence of Russian gas buyers on MoscowBusiness & Economy December 05, 19:21
Putin included in Time magazine’s Person of the Year shortlistWorld December 05, 19:16
Russia loses $500,000 greenhouse due to Progress spacecraft’s crashScience & Space December 05, 18:31
Russian Foreign Ministry to promote oil pipeline operator Transneft’s interests abroadBusiness & Economy December 05, 18:24
Moscow students launch campaign to collect aid for Syrian youthWorld December 05, 18:11
Uzbekistan’s President-elect thanks international monitors in RussianWorld December 05, 18:10
Second Russian female doctor dies of wounds after Aleppo shelling — ministryWorld December 05, 17:52
Gazprom explores opportunities for further legal protection of rights in UkraineBusiness & Economy December 05, 17:46
Russian holding Renova’s affiliate may invest into Hyperloop projectBusiness & Economy December 05, 17:42
SOCHI, September 19. /ITAR-TASS/. It is highly unlikely that Russia will be able to improve investment climate in the next 1.5-2 years, former Finance Minister Alexey Kudrin said on Friday
According to Kudrin, who chairs the Supervisory Board of the Moscow Stock Exchange, the task of improving the investment climate cannot be accomplished without reshuffles in the ruling elite of the country.
“In the next 1.5 or 2 years, it is hard to expect that the investment climate will improve unless a political task is set and the relative steps are taken. But this demands the renewal of the team and political will. Otherwise, nothing will change in this matter,” Kudrin told reporters in Sochi.
Kudrin has called for making the system of state management in Russia more harmonious and transparent, stressing that this effort could result in the economic growth in the country of up to 2%. “The quality of state management today does not meet the tasks of the economic growth,” he said.
The former finance minister earlier estimated the outflow of capital investment from the Russian economy by the end of the year at $110 billion. Earlier, his forecast for this year looked far worse, standing at $150-160 billion.
The European Bank for Reconstruction and Development said on Thursday that the cumulative net private capital outflow from Russia reached $75 billion in the first six months of the year.
Russian Economic Development Minister Alexey Ulyukayev on Thursday predicted a significant decline in the annual capital flight rate in several years. He expects that the outflow of capital will shrink to $30 billion in 2016 and to $20 billion in 2017.