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PM on Russian economy’s speed bumps

Prime Minister Dmitry Medvedev announced that within six years the Russian economy will have a “powerful gravitation” that is, it will be attracting “the best minds and ideas.” However, there are certain “speed bumps” or states that are exerting pressure on Russia and prevent its economy from picking up pace.

Medvedev wrote about this in an article for RIA Novosti. The prime minister believes that national projects will help to achieve fast development of the economy and social sphere. Right now there are 12 national projects worth over RUR 25 trillion ($374 bio). Medvedev admitted that the price is colossal; however, it has to be paid for the sake of Russia’s present and future and for people to eventually say: “I love the life I’m living.”

“Every person in the country wins from a developed economy. And I am certain that in six years, the Russian economy will have a powerful gravitation. It will be able to attract the best minds and ideas both within the country and from abroad,” the prime minister wrote.

Medvedev believes that this can be achieved by providing people with a job they love and good income as well as opportunities to “enjoy life,” which is possible if the healthcare system improves.

“Our immediate plans include construction and maintenance of children’s outpatient clinics, measures to prevent cancer, cardiovascular and other serious diseases, improving the quality and accessibility of medication and healthcare in general, including development of air ambulance and distance treatments,” Medvedev stressed.

He also believes Russia needs a breakthrough in education.

Other important economic measures include increasing the quality of investment into principal capital (up to 25% GDP). Regulatory norms need to be amended to eliminate excessive requirements for businesses. Finally, Russia must be involved in the world economy through increased exports of goods and services which could include food, medication, education and innovative technology.

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