Russia to Raise Investment to 25% GDP – Medvedev

MOSCOW, January 23 (RIA Novosti) – Russia has set the ambitious task of raising investment to 25 percent of GDP, Prime Minister Dmitry Medvedev said on Wednesday.

“We have quite an ambitious task in the investment sphere – to raise investment from 20 percent to 25 percent of GDP, build up investment in the transport and energy infrastructure, replace outdated and ineffective facilities with new and highly productive ones,” Medvedev told the World Economic Forum at Davos.

“We also are counting on considerable contribution by foreign direct investment in solving this task,” Medvedev said.

Russia can achieve annual economic growth of at least 5 percent, if investment grows by no less than 10 percent annually in the next few years, Medvedev said.

Earlier in January Medvedev set the ambitious task of achieving 5 percent economic growth but did not specify the sources of this growth.


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