EXCLUSIVE: Chief economist at Deutsche Börse-owned firm argues what reforms Russia needs | EmergingMarkets.me:
"In this interview with EmergingMarkets.me, Philip Uglow, chief economist at MNI Indicators, a Deutsche Börse-owned research firm, explains what he believes Russia needs to do to achieve sustainable growth.
You have said Russia needs structural changes to its growth model. Could you outline what specifically such changes should be?
Russia’s weak business climate remains a key obstacle to investment and growth. Russia needs to gravitate from its consumption-led growth model towards a model which involves greater investment by the private sector.
Key structural changes:
- Investment is needed to modernise oil and gas production which increasing competition from offshore shale gas and the improving political situation in the Middle East.
A rule of law and policy framework conducive to attract capital is critical (further cutting of red tape, reduction of corruption and removal of other bureaucratic obstacles). Corporate governance should be strengthened to increase transparency and improve the investment climate."
'via Blog this'
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