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Russia needs serious reform, economic growth program — ex-finance minister

March 31, 2015, 13:21 UTC+3 MOSCOW
During the current period of Putin’s presidency, economic growth will be just 1.5-2% from 2012 to 2018
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Alexey Kudrin

Alexey Kudrin

© Mikhail Japaridze/TASS

MOSCOW, March 31. /TASS/. Russia needs a serious program on new reforms and economic growth rates, former Finance Minister Alexey Kudrin said on Tuesday.

The ex-finance minister spoke at a roundtable discussion devoted to 15 years since Vladimir Putin was elected as Russia’s president.

"Unfortunately, during the current period of Putin’s presidency, economic growth will be just 1.5-2% from 2012 to 2018," Kudrin said.

"We have moved to a new growth level with low growth rates, which do not correspond to Russia‘s possibilities to be a real competitor in the world economy and ensure substantial rates of technological progress and, as a result, its military and economic might," the ex-finance minister said.

"Today we’re facing serious challenges. If the leadership of the country realizes them we will need a serious program on reforms and a recovery in growth rates," he said.

"If the rating is not used for carrying out reforms it’s just a rating for the sake of rating," he added.

According to the poll conducted by the Public Opinion Fund (POF) in March, the electoral rating of President Putin reached its new high of 75%.

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