facebook
twitter
rss
account
search
search
 

Russian economy stalling, PM Medvedev says

A combination of global factors has stalled the Russian economy, Prime Minister Dmitry Medvedev said.
By Ed Adamczyk   |   April 4, 2014 at 2:52 PM   |   Comments

| License Photo
ULYANOVSK, Russia, April 4 (UPI) -- The Russian economy is stalling due to a range of factors, including the country’s involvement in Crimea, Prime Minister Dmitry Medvedev said in Ulyanovsk.

Speaking Friday to a government council, Medvedev mentioned global markets as well as the situation in Crimea, and suggested cutting bureaucratic red tape and changing the mentality of students who view a business career as undesirable.

“(It) is a dangerous trend that many young people dream of a career of being state officials. This is not a good sign. Their priorities must be different.”

Medvedev noted, however, that despite geopolitical and economic constriction as a result of Russia’s annexation of Crimea, in the past two weeks Russia has attracted more foreign capital than Brazil, a phenomenon he called “surprising.”

He admitted that Russia may not achieve targets set for 2020.

In March, Economy Minister Alexei Ulyukayev warned Russia should expect the growth of its gross domestic product to 0.6 percent in 2014, down from 1.3 percent in 2013.


[Xinhua]

Follow @adamczyk_ed and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Lockheed Martin, Roketsan collaborate on F-35 cruise missile Lockheed Martin, Roketsan collaborate on F-35 cruise missile
2
GenDyn UK picks Lockheed Martin for vehicle turrets GenDyn UK picks Lockheed Martin for vehicle turrets
3
Survey: Harvard Law grads earn the most of any grad school in the country Survey: Harvard Law grads earn the most of any grad school in the country
4
Thailand orders more aircraft from Airbus Helicopters Thailand orders more aircraft from Airbus Helicopters
5
China overhauls legal system, at least on paper China overhauls legal system, at least on paper
Trending News
Around the Web
x
Feedback