World Bank tells Russia to diversify, attract investors

Moscow

RUSSIA needs to improve its investment climate, diversify its oil-dependent economy and boost productivity growth if it wants to catch up with the global economy, the World Bank said on Thursday.

In a report called "Pathways to Inclusive Growth" the World Bank offered the Russian authorities some tips on how to overcome existing economic and financial hurdles to achieve better performance in the future. "Although the fruits of many policy actions will only be visible in the medium and longer term, now is the time to start," the World Bank said.