Macroeconomic indicators should not turn into 'fetish' — Russian Economy Minister

MOSCOW, June 30. /TASS/. Individual macroeconomic indicators should not be turned into a "fetish" and it is necessary to assess the situation as a whole. Russian Minister of Economic Development Maxim Reshetnikov said in an interview with Vesti news program.

"We understand that there are challenges with the budget, with credit policy, and in the banking sector. We are definitely expanding the range of investment tools; we are working to improve the investment climate," the minister said.

He noted that investment is largely a matter of trust and sentiment. "We need to work with trust and keep morale high. Because times can be colder, and times can be warmer, but business never forgets anything. The extent to which we are honest with him, and the extent to which we build long-term relationships will determine exactly when and how quickly we return to a period of investment growth," Reshetnikov added.

The level of investment was relatively high earlier as compared to the share of investments in the GDP. There may be some decline, he stressed.