Bloomberg News

Ulyukayev Urges Russia to Stop ‘Dreaming’ of Growth Exceeding 4%

October 14, 2011

Oct. 14 (Bloomberg) -- Russia should stop “dreaming” about economic growth of more than 4 percent, Moskovskiye Novosti reported, citing an interview with central bank First Deputy Chairman Alexei Ulyukayev.

Growth is constrained by corruption, administrative barriers, state control of the economy and a flawed legal system, Ulyukayev was quoted as saying by the Moscow-based newspaper.

The country’s inflation rate may drop below 7 percent this year and the government will probably run a budget surplus, Ulyukayev said, according to the newspaper.

To contact the editor responsible for this story: Paul Abelsky at pabelsky@bloomberg.net


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