The deterioration of the investment climate could lead to a decline in the development of the Russian economy

The deterioration of the investment climate could lead to a decline in the development of the Russian economy. This was stated by the founder of the agricultural holding "Ruzskoe Moloko" Vasily Boyko-Veliky

- Alas, the Russian economy has been growing slowly over the past seven years. The deterioration of the investment climate could also lead to the current decline in development. The point is not only and not so much in the sanctions and the pandemic, but in the insufficiency of the system for protecting entrepreneurial activity,” he said.

Vasily Boyko-Veliky also noted that the latter aspect concerns both the courts and other state institutions.

- In my opinion, the policy of the Central Bank, which restrains inflation by suppressing economic growth, is largely to blame for the low rates of economic development, - the expert added.

In addition, according to Boyko-Veliky, far from all instructions and even laws signed by Russian President Vladimir Putin are being implemented.

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- Good laws in practice are not always properly implemented by state bodies on the ground, although the President strives to improve the investment climate and initiates many good decisions. In particular, on August 2, 2019, a new version of part 1.1 was adopted. Art. 108 of the Code of Criminal Procedure of the Russian Federation, which prohibits the keeping in prison of entrepreneurs who do not hide from the investigation. But she works selectively: whoever the investigation wants to “press” is kept in jail anyway, ”concluded Vasily Boyko-Veliky.