Rus News Journal

Head VB: the Economy of Russia in a good condition

the Russian economy is in a good condition. Such opinion was stated today in Moscow to journalists by the president of the World bank James Wolfensohn. To it testify economic growth which was shown by Russia in 2004., - at level of 7 % and growth of its gold and exchange currency reserves.
at the same time, the head of the World bank has noted necessity to clear a question on the further development of a private sector, having told that much depends on what way will be chosen by Russia. Besides, he has specified in necessity of expansion of investments into a private sector.
J. Wolfensohn has approvingly expressed concerning actions of the government of the Russian Federation, concerning, in particular, a question of repayment of debts, a policy on decrease in inflation and as a whole national economy developments.
we Will remind that in the end of the last year VB has published the report on Russia in which recommended to the country government to lower excessive intervention of the state in economy. It was thus specified on YUKOS business which, according to analysts of bank, has caused indecision among investors. In quality of the main reason of outflow of the capital from Russia the currency policy of the Central bank was called.
in the document of the financial organisation it was noticed that it is useful for Russian government to continue assistance to development of private business and to growth of private investments as basic engine of economic growth.
Besides, analysts of the World bank recommended to lower taxes in oil branch. As a whole high rates of the taxation of oil sector of economy are quite logical, and it is way of withdrawal of a rent, however it is important, that tax and other regulating norms created healthy stimulus and financial possibilities for development of this branch, it was marked in the report.