Russian official says huge foreign investments expected soon

Russian economy is likely to face a large inflow of international investments in the near future, Russia's First Deputy Prime Minister Igor Shuvalov said on Thursday.

"We are ready for a considerable inflow of foreign investments in the immediate future," Shuvalov said during a discussion at the World Economic Forum in Davos, according to Sputnik International.

He highlighted that Russia had recovered from hard economic times and called the situation in the stock and real estate markets "healthy."

Shuvalov also added that in 2017 Russia’s economic growth is estimated to be at around 1-2 percent.

The Russian economy suffered a recession in 2014, as the ruble lost around 50 percent of its value against the US dollar amid low oil prices and Western economic sanctions imposed on the country.

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