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. Last Updated: 07/27/2016

Putin Says Foreign Investors Want Strong, Stable Regime




Acting President Vladimir Putin said Monday Russia had to put an end to its chronic political instability to lure foreign investors and heal its economy.


In an interview with ORT public television, Putin said investors wanted stability and assurances that everyone involved in the economy would be extended equal terms.


"If you go from one coup d'?tat to another, if you are always living in anticipation of the next one and what its consequences might be, just who is going to invest?" Putin asked.


"There will be no major investment until we have a solid political system, stability and a strong government defending the market and creating favorable conditions for investment. It seems to me that the president who will be elected must be just such a factor."


Putin, acting president since Boris Yeltsin's New Year resignation as head of state, is heavily favored in the March 26 election. He has called for the strengthening of legal and financial institutions to ensure that businesses and families can go about their business without disruption.


Putin told ORT that the most important factor in developing the economy was "to guarantee equal privileges for all. There should be no privileges for any group of individuals or company. This is the most important function of the state - a highly moral function. It is above all an imperative in Russia."


He also said it was critical for Russia to develop its relations with the International Monetary Fund and World Bank, but without compromising its principles or begging.


"It would be improper for us to go pleading for anything. We are a self-sufficient country," he said.


"It is not an end in itself to get credits. Rather the aim is to maintain good working relations with international institutions ... who have experts and whose aim is to integrate developing economies into the world economy."


The IMF said at the weekend that Russia was lagging in implementing promised structural reforms needed to win new loans.