19:20 GMT +319 January 2019
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    MOSCOW, January 26 (RIA Novosti) - Famous Russian economic scientist Alexander Livschits has assessed Russia's investment climate as favorable. He expressed this opinion at a RIA Novosti press conference on Monday.

    "I assess the investment climate as generally favorable," said Livschits.

    At the same time, he noted a number of problems that are badly affecting investment. In particularly, these are unpredictable tariffs for natural monopolies' services that are annually indexed and unpredictable tax conditions because the tax code is amended every year, and the problem of courts as well.

    At the same time, Livschits noted that in macroeconomic terms Russia is not ready for heavy investment from other countries, which will lead to excessive consolidation of the ruble, the economic scientist believes.

    Besides, he added, Russia's interests do not always meet the interests of foreign investors. The sectors that need investment do not get them and vice versa, said Livschits.

    Russian infrastructure needs investment but foreign investors are not interested in such long-term projects. According to Livschits, foreigners are interested in buying raw material sector companies. "However, our raw material sector companies are currently underestimated and nobody intends to sell them," said the economic scientist.

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