24 February 2004 15:03
Russian rouble to be fully convertible in 2007 - minister
Paris, 24 February: The Russian rouble "will be fully convertible in 2007", the Russian economic
development and trade minister, German Gref, told a round table discussion on Russian-French cooperation on Tuesday [24
February].
"Our currency control system will be more liberal than the French system," he said, without
elaborating.
He called on French investors to invest in Russia, saying that, "for French investors, the Russian market is
most profitable". "We can guarantee (an annual) 30 per cent return on the stock market," he said, adding
that the real estate market is as profitable as the stock market nowadays.
Last week Gref said in Moscow that Russia is facing the risk of the stock and real estate markets
"overheating". "We can't process the amount of current investment into the Russian economy,"
Gref said, explaining why a bubble on the stock market is possible. "By and large Russia does not lack investment.
What it does lack is investment ideas," he said.
[Prime-TASS news agency] |
RUSSIA IN FACTS
