Minister: Investment activity in Russia steadily grows since mid-2016

According to Maxim Oreshkin, the growth of investment goods import in 2017 reached "around 30 percent against the level of the previous year."

According to Maxim Oreshkin, the growth of investment goods import in 2017 reached "around 30 percent against the level of the previous year."

Sergey Konkov/TASS
Growth of investment goods import reached 'around 30%' in 2017

Investment activity in Russia has been steadily growing since mid-2016, Russian Minister of Economic Development Maxim Oreshkin said in an interview with Rossiya 24 TV channel, TASS reports.

"There are statistics on imports of investment goods, and there are statistics on production of investment goods inside the country. These two indicators show that investment activity has been steadily growing since mid-2016," the minister said.

According to Oreshkin, the growth of investment goods import in 2017 reached "around 30 percent against the level of the previous year."

"In terms of domestic production, there is positive dynamics too - much more modest, but also positive," the minister added.

Oreshkin noted that the Russian economy does not need financing, but experience and knowledge, which then will be realized in various economic spheres. He also confirmed that the target inflation rate of 4 percent will be reached in May. "The end-of-year estimates do not change. The base scenario is 3.8 percent provided the ruble depreciates. Expectations with a stable ruble rate are around 3 percent," Oreshkin said.

The Russian government considered three scenarios of the forecast - conservative, basic and target - and adopted the so-called base scenario with inflation at the level of 3.8 percent in Russia in 2017.

Read more: Is it worth investing in Russian companies?

If using any of Russia Beyond's content, partly or in full, always provide an active hyperlink to the original material.

We've got more than 1,8 million followers on Facebook. Join them!

This website uses cookies. Click here to find out more.

Accept cookies