Investment in Russian economy to reach $360 bln in 2010

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Investment in Russian economy to reach $360 bln in 2010

Total investment in Russia's economy in 2010 will reach $360 billion, 800% growth since 2000, a Russian deputy prime minister said Friday.

Alexei Kudrin, who is also the finance minister, said Russia has not seen such growth rates over the last 30 years.

Kudrin said the macroeconomic situation and development will encourage further investment in the country, especially in transport, communications, construction and trade.

The Finance Minister also said in 2007 Russia will allocate 180 billion rubles ($7.2 billion) to the Bank for Development, 240 billion rubles ($9.6 billion) to the state corporation for the housing and communal facilities, 130 billion rubles ($5.2 billion) to the Russian Nanotechnology Corporation and 90 billion rubles ($3.6 billion) to the investment fund.

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