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Today in Russian Business – Nov 9, 2011

International Monetary Fund chief Christine Lagarde has apparently advised Russia to limit its non-energy revenue deficit to 4% of GDP and curb annual inflation growth to 3-5% if it wishes to improve its economic development.  ‘Russians may not appreciate it yet, but they are enjoying a sweet spot’ says Martin Gilman of Russia’s economy in a Moscow Times op-ed.  At the opening of the Nord Stream pipeline, President Medvedev has told the press that ‘Russia-Germany trade will reach a fantastic amount of $70 billion this year. It may be the biggest level of trade and economic cooperation in the entire history of Russia-Germany relations’.  As Russia attempts to attract $17 billion of private investments for road-building projects, Prime Minister Putin has announced that the country is on the verge of making an ‘infrastructure, transport breakthrough’ by modernizing its highways and increasing the capacity of its railroads, airports and sea terminals.