The Russian government is drafting a plan of action to speed up economic growth in the country to the rates above the average global level, the Russian Prime Minister Dmitry Medvedev said speaking at the Gaidar Forum.
"As you know the government is now preparing a plan of action to speed up economic growth to reach the rates above the global average," Medvedev said, adding though that the average global growth rates could be not very high.
The shortage of investments and the credit crunch are impeding Russia’s economic growth, he noted.
Activities of Russian authorities in the economy are closely interrelated with the global economic agenda, "even despite the specificity of the current situation for Russia," Medvedev said. "Obviously there is one common problem… the risk of long-term stagnation" he said. "It has already become clear that normal growth rates will not recover on account of monetary and budget policies only; major structural reforms are needed."
Dmitry Medvedev believes that politically motivated barriers in the economy generate world tensions. "One of the important features of the modern economy that concerns one and all is the sharp politicization of international economic relations. There’s no getting away from it," he said.
"Policies from the position of strength and sanctions that always run counter to economic considerations - what I am talking about is not political motives but their imminent harm to the economy - these politically motivated barriers to mutually beneficial projects today generate lasting tensions around the world," Medvedev stressed.
"It is necessary to constantly produce an upgrade of technologies and professional qualifications," Medvedev said. He also added that the risk of growing technological gap in Russia is one of the most serious challenges for the national economy.
"I believe that the increase of technological backwardness in our country is one of the most serious challenges, perhaps the most serious challenge our economy faces," TASS cited him as saying.
He expressed confidence that the G7 and G8 groups have been successfully replaced by the G20.
