Russia Bets on Transport Investment to Boost Growth

MOSCOW, February 21 (RIA Novosti) – Massive spending on transport infrastructure combined with measures to lure more foreign direct investment and improve the business climate could help boost Russia’s flagging economic growth, First Deputy Prime Minister Igor Shuvalov said on Thursday. Russia is planning a 500 billion ruble ($17 billion) program to clear bottlenecks from its overburdened road and rail networks to raise growth to the government’s target of 5 percent, Shuvalov said in an interview with The Wall Street Journal. “We need to move on this urgently,” he said, add…

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