Logo
  Thursday, December 1, 2022
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

The use of Russia's Stabilization Fund for investment projects is ineffective
The use of Russia's Stabilization Fund for investment projects is ineffective, and investment should be financed with funds other than surplus oil revenues, Finance Minister Alexei Kudrin told a popular Russian daily Monday. "Road construction does not generate economic growth. The main thing is macro-economic stability. That encourages business people to invest more than all government investment combined," Kudrin said in an interview with Rossiiskaya Gazeta. The finance minister said investment projects could not immediately bring about the desired results in industry and trade to curb inflation. "While financing some sectors, we would aggravate the position of pensioners and people working in the budget-dependent sector who are especially suffering from price growth," the minister said. Russia has accumulated surplus revenues due to high world oil prices. If the Stabilization Fund is spent recklessly, we will have much higher inflation than we already have today, Kudrin said.
Print The use of Russia's Stabilization Fund for investment projects is ineffective Bookmark The use of Russia's Stabilization Fund for investment projects is ineffective

Related News   
OctNovember 2005Dec
MoTuWeThFrSaSu
31123456
78910111213
14151617181920
21222324252627
2829301234
567891011