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. Last Updated: 07/27/2016

McDonald's Boosts Expansion Plans

McDonald's plans to open 30 locations in the country this year and accelerate the pace of expansion in the next two years, taking advantage of rising sales in the region.

"Russia will be one of the key countries where McDonald's will see growth," Ian Borden, chief financial officer for Russia and Eastern Europe, said Tuesday. "It's a big country, the income levels of people are growing very quickly and the market is not developed yet."

McDonald's will continue to run all of its Russian outlets "in the short term" and will consider franchise openings "in the longer term," Borden said.

The company's two main challenges in the country are finding employees and rising competition, Borden said. "You have to develop people to fill positions as you grow," he said. "There will continue to be more competition on the market. ... It's good as you want to be better, and consumers need choice."