Medvedev Reiterates Backing for Private Sector

The planned growth rate of the Russian economy of 2% this year is quite achievable, Prime Minister Dmitry Medvedev said at a meeting of the board of the ministry of economic development.

According to Medvedev, by the end of the year, the positive dynamics that have emerged earlier in the Russian economy will become even more noticeable. “In any case, the earlier figures are still quite achievable, including GDP growth of up to 2%,” he said. He also noted good rates of progress towards the optimal level of inflation for Russia and low unemployment, Tass reported.

Medvedev, commenting on the topic of investment, said: “After a long investment pause, entrepreneurs are ready for new projects,” as well as foreign investors. “Our task is to attract money to innovative development, to the most promising sectors, enterprises. In order to do this, we need to remove redundant administrative restrictions and offer private investors significant incentives and guarantees.”

In particular, Medvedev spoke about development of public-private partnership, and this mechanism already proving itself. According to the prime minister, more than 1,800 such projects are being developed.

“We are getting more and more territories of advanced development. At the moment there are 34 of them and I have just signed two resolutions on creating territories for advanced development—in Nikolayevsk-on-Amur, in the Far East region, the Khabarovsk Territory, and in Sarov—that is in the Nizhny Novgorod region,” he said.

Medvedev reiterated that the business environment should be comfortable, predictable. “The business climate largely depends on how the state works, including the quality of state and municipal services,” he said.