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Russia needs to reach global average economic growth to attract US investments — ombudsman

January 30, 16:09 UTC+3 MOSCOW

Russia needs to demonstrate that its economy "has potential for growth, that it has a clear growth program, and an efficient team to implement it," business ombudsman Boris Titov said

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MOSCOW, January 30. /TASS/. Russia needs to reach global average economic growth rates in order to attract investments from the United States, business ombudsman Boris Titov told TASS.

Russia needs to demonstrate that its economy "has potential for growth, that it has a clear growth program, and an efficient team to implement it" in order to attract investments, including from the United States.

Titov said that he had met representatives of the U.S. Chamber of Commerce and the U.S. Russia Business Council during a trip to the United States, who said that the Russian government is honest about the country’s growth potential for the short-term, which is "slightly higher than 1% per year." He added that the situation may be changed only if Russia’s economic growth rates reach the global average.

In end-2016, Russian President Vladimir Putin tasked the government with thrashing out a plan of action to be implemented until 2025 aimed at reaching economic growth rates above world average already in 2019-2020.

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