Foreign investment in Russia fell in 2010
Direct foreign investment in the Russian economy fell significantly in 2010, Finance Minister Alexei Kudrin said on Friday.
"Direct foreign investment was one and a half times lower," Kudrin said. "Preliminary figures indicate it was approximately 12 to 14 billion dollars."
"This is not much. In the best years it reached $27 billion," he noted.
He did not give more precise figures.
Kudrin also said that Russia needed to achieve an annual GDP growth of 6-7%.
"We will see in the coming years a stable growth of around 4% and above. However for Russia this - the level of a mid-ranking economy - is insufficient," he said.
"We need a significantly higher growth rate of 6-7%."
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