Russian Prime Minister Worries about Low Investment Rate in Russian Economy

Russian Prime Minister Mikhail Kasyanov said at a Monday session of the Consultative Council for foreign investments that Russian government worried about low investment rate in Russian economy. According to Mr. Kasyanov, the investment rate was 2,5% from April to August this year. Mikhail Kasyanov thinks it is not enough.

The Russian Prime Minister said that foreign investment volume had increased by a quarter in the first half of 2002. First of all, long-term and medium-term investment account for it. However, direct investment in Russia's economy has decreased, the Russian Prime Minister stressed. Mr. Kasyanov pointed out that investment decrease was a result of global investment slump.

According to the Russian Prime Minister, a low development level of financial sector is one of the factors that hamper investment in the Russian economy. The Russian government intends to pay more attention to this issue and it will be discussed at one of the sessions of the Cabinet in autumn.