INVESTMENT DOWN EVEN AS ECONOMY SHOWS SIGNS OF GROWTH.

Investment in Russian businesses fell 20 percent over the last year, Moscow’s Ekho radio reported June 13. The report came even as other indicators–including industrial growth–pointed to a better future. At the present time, there is so much unused capacity that the investment decline is not an immediate problem, but unless there is more money spent on new equipment and plant, any growth will not be sustainable. Meanwhile, the Duma on June 14 passed the production sharing bill that many believe will spark new foreign investment in the country, Itar-Tass said June 14; and the economics ministry announced that there had been a “quiet revolution” in investment policy, with a greater percentage of all investments going to smaller projects rather than large ones.

Russian Government Seeks To Revive Job-Creation Program.