Russia's Finance Minister explains how regions should attract foreign investors

In difficult economic conditions, when regional budgets are going through hard times, the Finance Ministry suggests avoiding the accumulation of social costs and focusing on structural measures.

"The thing is that regional governors work with entrepreneurs in order to create favorable conditions. This should be done not at the expense of a budget increase, but at the expense of structural reforms. A businessman should be offered land, infrastructure, and communications. That is the most important thing. The budget shouldn't be used to accumulate costs. Russia's business climate is largely dependent on the activity of regional governments."

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