Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Russia passes most difficult economic period — PM

October 17, 2016, 15:11 UTC+3

Russia is open for all companies that want to run their business on its territory, the premier says

1 pages in this article

GORKI, October 17. /TASS/. Russia has passed the most difficult economic period, Russian Prime Minister Dmitry Medvedev said on Monday at a meeting of the Foreign Investment Advisory Council (FIAC).

"We have passed the most difficult period, when our economy was forced to adapt to external shocks, and of course decline of hydrocarbon prices, external pressure, various political restrictions," Medvedev said.

According to Medvedev, the government has done a great anti-crisis work. "We managed to achieve some good results. Now we have the lowest inflation over the whole period a market economy existing in Russia, that is, in 25 years," the prime minister said.

Russia is open for business

Medvedev added that Russia is open for all companies that want to run their business on its territory.

"Dear colleagues, I’d like to reiterate that we continue to be open for all desirous to work in our country and run their business here with Russian partners or independently or sell their products and services here," Medvedev said.

Russian authorities are creating new instruments to attract investors, the Prime Minister said. "We launched a new mechanism this year - it is called a "special investment contract" and can also be used by foreign investors. According to its conditions, an investor shall master, create or upgrade a production facility in Russia and the government undertakes to provide it with stable conditions for doing business. We are definitely interested in new technologies and new solutions," Medvedev added.


The Russian government expects inflation will be about 4% next year.

"We anticipate inflation will be about 4% next year, which will definitely create fundamentally new environment for work on [the Russian] market," Medvedev said.

The Russian government also managed to achieve that "the economy is gradually embarking on the growth trajectory," he said.

"Growth is weak so far but is present nevertheless. Let’s hope recovery capabilities have not been exhausted in this regard," Medvedev added.

Show more
In other media
Partner News