Moscow, Oct 25: Russia’s economy needs to become more dymic and efficient, Russian President Vladimir Putin said on Tuesday.
“We cannot be satisfied with the current growth rate. We have to raise it to the levels above the global average,” Xinhua cited Putin as saying in an address to an intertiol investment forum in the Russia capital Moscow.
Russia leader said the country’s economy was reviving with its gross domestic product rising over the last four quarters, with the growth rate exceeding two per cent in the third quarter this year. “To reach the pre-set targets, the country needs to activate new sources of growth,” he added.
Primarily, Russia needs to increase labour productivity through modernising production and launching new industrial units on the basis of modern technologies, he said.
Russia should keep improving its business climate, stimulate competition and create a more favourable environment to attract investment, Putin noted. The second source of growth, according to Putin, is to further tap into Russia’s export potential.(IANS)