Agencies discuss Minister of Economic Development’s article in Roscongress Russian Investment Forum magazine.

Maxim Oreshkin, Minister of Economic Development of the Russian Federation, believes that in order for the Russian economy to grow, groundbreaking projects are needed, according to reports from RBC.

In an article which Oreshkin wrote for the Russian Investment Forum in Sochi magazine, the Minister noted that stable growth rates would lead to an increase in investment, rational use of the workforce, and higher productivity. In Oreshkin’s opinion, projects will facilitate an expansion of non-commodity exports.

He believes that data from surveys of entrepreneurs, showing an improvement in business expectations, offers evidence of an economic recovery in the country.

“The number of people naming economic uncertainty as the major issue is falling: from 55 points in December 2016 to 47 in January 2017”, the Minister said (quote from TASS).

In mid-February, at a meeting with Russian President Vladimir Putin, Oreshkin announced that “at the beginning” of 2017, the economic situation was “fairly positive.” He noted that growth in the Russian economy was forecast to be 2% this year. Inflation should not exceed the planned level of 4%.

A few days later, the President said that macroeconomic indicators for 2016 had been better than expected. He believes that the country’s economy is now on an upward trend.