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Russian reforms yet to bear fruit, World Bank official
says
Interfax
Moscow, 25 January: Russia's ten-year long reforms have failed to bring about the anticipated results, World Bank Vice-President for Europe and Central Asia Johannes Linn has said.
Russia has remained below the zero line as the public sector continues to make losses, new market players have failed to benefit from reforms and oligarchs have retained controlling positions in the economy, Linn told Kommersant newspaper.
CIS countries accomplished a turnaround in the past two or three years. Their growth rates are similar to that of Central European countries, and total 3 per cent to 4 per cent per year, he said.
If Russia and Ukraine persevere with the consistent steps of the past few years, and all the previous reforms yield benefits, they will be able to attain the global level, he said.
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