20:26 GMT +324 September 2018
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    Russia’s Fiscal Policy Sets High Standards, Shows Investment Prospects - IMF

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    St. Petersburg International Economic Forum 2018 (64)
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    ST. PETERSBURG (Sputnik) - Russian fiscal policy, as well as several other macroeconomic standards, sets standards of excellence and indicates that Russia is a "safe haven" for investments, Managing Director of the International Monetary Fund Christine Lagarde said on Thursday.

    "Russia in many ways is setting the standard of excellence when it comes to macroeconomic standards. The way that you look at fiscal policy, inflation situation, the debt situation, all those levels are very much setting the standards of excellence," Lagarde said at the St. Petersburg International Economic Forum (SPIEF).

    The IMF chief said that the Russian economy was growing by about 1.5 percent a year adding that these growth rates were lower than the ones in past.

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    "Russia recently changed fiscal rules, which is again, is setting the standard of excellence… that is clearly giving an indication to investments that this is a country where it is safe and where the fiscal situation is under control," Lagarde added.

    SPIEF, held annually in Russia's second largest city of St. Petersburg, is a major global platform for communication between business representatives and the discussion of crucial economic issues. The event started earlier in the day and will continue until Saturday. Rossiya Segodnya International Information Agency is the official media partner of the forum.

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    St. Petersburg International Economic Forum 2018 (64)

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