The main problems of the Russian economy are the lack of reforms and low levels of investment, not sanctions from the West and falling oil prices. This opinion, according to RIA Novosti, expressed on Friday, 11 November, the chief economist of the European Bank for reconstruction and development (EBRD) Sergei Guriev.
The pace of development of the national economy, as recalled by the expert, began to slow down before 2014, when was introduced the first sanctions against Russia. “And in this sense, neither falling oil prices nor even the imposition of sanctions are not the only problems of the Russian economy. But the lack of structural reforms, the problems with the investment climate, as, indeed, it all the time and recognize the Russian government, is the most serious problem of the Russian economy”, — he said, assessing the role of sanctions in GDP of 0.5-1 percent per year.
Guriev urged to increase the attractiveness of Russia for business and investors. He also said that optimistic about the development of the Russian economy and believes in the possibility of reform.
Earlier, on 11 November Guriev said that the development of the economy and restore growth, it is necessary to fulfill the program regulations of decrees of President Vladimir Putin from 2012. “In fact, if you implement these measures, offered by EBRD or Vladimir Putin, I think we would live in a country with higher income, with higher competitiveness, and, in fact, and with higher inclusion, with a more equitable distribution of benefits from economic growth”, — said the expert.
Guriev left in 2013, from Russia to France after the Russian law enforcement authorities suspected him of involvement in the “second Yukos case”. Basmanny court issued a search warrant at the scientist and then he was three times summoned to the Investigative Committee.
