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Russia's Medvedev Optimistic On Economic Growth

Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev has said the Russian economy “is gradually entering a phase of growth.”

In an interview with Israel’s Channel 2 timed to Medvedev’s upcoming visit to the country broadcast on November 5, Medvedev said inflation in Russia next year will be “around 4 percent,” the lowest inflation rate in the country’s post-Soviet history.

He added that Russia must “change the structure” of its economy to reduce its dependence on exporting energy commodities. Doing so, he said, was "a knotty task.”

Medvedev said “a technological revolution” in high technologies and IT business “is vital for us.”

The Russian economy has been in decline in recent years because of low global energy prices and the impact of sanctions imposed by many countries over Moscow’s 2014 annexation of the Ukrainian region of Crimea and its military involvement in eastern Ukraine.

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