Led by India and China, the BRIC nations are expected to be among the fastest-growing economies this year, a top official of the US-based financial service firm said.
"Our expectation is that the fastest rates of economic growth this year are expected to be in China, India, Brazil and Russia (BRIC)," Morgan Stanley (MS) CEO John Mack said, adding that Russia had to overcome foreign investors' wariness.
In an interview ahead of St Petersburg Economic Forum later this month Mack said: "Russia still has a very strong balance sheet and low overall leverage, which remain key advantages for the country."
"However, it continues to lag in investment due to the volatile macro environment and weak property rights," Mack was quoted as saying by RIA Novosti.
Morgan Stanley Chief, who is scheduled to attend "Rethinking Global Economic Trends" panel at the June 17-19 St Petersburg International Economic Forum said: "We will discuss how the BRIC economies, and in particular Russia, can play an important role in becoming drivers for global economic growth in the medium term."
He said that there were a number of important initiatives that would be discussed at the forum that could help to ensure that Russia remains a destination for global investment and stays on a path to long-term, sustainable growth.
"Our expectation is that the fastest rates of economic growth this year are expected to be in China, India, Brazil and Russia (BRIC)," Morgan Stanley (MS) CEO John Mack said, adding that Russia had to overcome foreign investors' wariness.
In an interview ahead of St Petersburg Economic Forum later this month Mack said: "Russia still has a very strong balance sheet and low overall leverage, which remain key advantages for the country."
"However, it continues to lag in investment due to the volatile macro environment and weak property rights," Mack was quoted as saying by RIA Novosti.
Morgan Stanley Chief, who is scheduled to attend "Rethinking Global Economic Trends" panel at the June 17-19 St Petersburg International Economic Forum said: "We will discuss how the BRIC economies, and in particular Russia, can play an important role in becoming drivers for global economic growth in the medium term."
He said that there were a number of important initiatives that would be discussed at the forum that could help to ensure that Russia remains a destination for global investment and stays on a path to long-term, sustainable growth.
courtesy: The Economic Times
0 comments:
Post a Comment