V. Salnikov: "Investors have to believe in Russia"

Deputy Director of the Center for Macroeconomic Analysis and Short-Term Forecasting Vladimir Salnikov talks about the main trends in the Russian economy and the reasons for the slowing of its growth rate as well as the decrease in investment activity. On October 21 Russian Prime Minister Dmitry Medvedev at the Consultative Council on Foreign Investment in Russia said that Russia's GDP in 2013 in the best-case scenario will grow by 2 %. In the first eight months of 2013, the GDP growth amounted to 1.5 %, while in 2012 it was more than 4 %. Industrial growth is almost zero. The government expects the 1.8 % GDP growth in 2013. The Economic Development Ministry believes that if the current tendencies in economic development prevail, the country's GDP in 2013 will be able to grow only by 1.5 to 1.6 %. During the meeting of the Advisory Board of Economic Development, Minister A. V. Ulyukayev said that Russia's GDP in January-September will increase by 1.5 % in annual terms, noting that there are not many positive tendencies at the moment. Regarding another important issue, direct foreign investments, in the first three quarters of 2013 foreigners invested $72 billion in the Russian economy.