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Russia: Minister Predicts Surge In Foreign Investment

Moscow, 22 January 1997 (RFE/RL) - Russia's Economics Minister says foreign investment is expected to surge by about 50 percent in 1997.

Interfax says Yevgeny Yasin told a news conference today that foreign investment is expected to reach $4.5 billion in 1997, up from the $2.5 to $3 billion last year.

Yasin said foreign investors last year were apparently influenced by the political uncertainty involving the presidential election, in which the Communists mounted a strong challenge.

Yasin also said he expects that, given political stability, the rate of growth of the Russian economy should reach five percent in the year 2000, and reach as much as nine percent five years later.