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ST. PETERSBURG, June 19. /TASS/. Peace and low taxes are necessary for development of the economy, Russian Economic Development Minister Alexey Ulyukayev said on Friday at Sberbank’s business lunch held at the St. Petersburg International Economic Forum.
"I want to end [my speech] with a simple recipe which Adam Smith suggested many years ago. Everything that is needed for the development of economy is peace and low taxes. The natural course of things will do the rest," the minister said.