Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Davos 2012
Technology
Media
Small Business
Legal
Deals
Earnings
Summits
Business Video
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
India Insight
World Video
Politics
Politics Home
Election 2012
Issues 2012
Candidates 2012
Tales from the Trail
Political Punchlines
Supreme Court
Politics Video
Tech
Technology Home
MediaFile
Science
Tech Video
Opinion
Opinion Home
Chrystia Freeland
John Lloyd
Felix Salmon
Jack Shafer
David Rohde
Bernd Debusmann
Gregg Easterbrook
Nader Mousavizadeh
James Saft
Lucy P. Marcus
David Cay Johnston
Bethany McLean
Edward Hadas
Hugo Dixon
Ian Bremmer
Mohamed El-Erian
Lawrence Summers
Susan Glasser
The Great Debate
Steven Brill
Breakingviews
Equities
Credit
Private Equity
M&A
Macro & Markets
Politics
Money
Money Home
Global Investing
MuniLand
Unstructured Finance
Linda Stern
Mark Miller
John Wasik
Analyst Research
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Life & Culture
Health
Sports
Arts
Faithworld
Business Traveler
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Article
Comments (0)
Full Focus
Editor's choice
Our top photos from the last 24 hours. Full Article
Best photos of the year
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Banks gorge on ECB loans, market cheer short-lived
|
11:12am EST
Exclusive: North Korea's military to share power with Kim's heir
|
8:58am EST
Slumping Gingrich promises sharper counter-punch
20 Dec 2011
NASA finds Earth-size planets outside solar system
9:22am EST
Oracle falls as slow tech spending hurts business
11:09am EST
Discussed
273
Ron Paul gains ground, further stirring Republicans
154
Ron Paul strongly defends anti-war policies
114
North Korea state TV says Kim Jong il has died
Watched
Kim Jong-un to share power
3:35am EST
Tears flow for Dear Leader
Tue, Dec 20 2011
Japan picks the F35 as regional uncertainty rises
Mon, Dec 19 2011
Putin pledges pro-growth tax reform, stable rouble
Tweet
Share this
Email
Print
Related News
Russia seizes Iran-bound radioactive material
Fri, Dec 16 2011
Russia's Putin offers protesters small change
Thu, Dec 15 2011
Instant View: Reaction to Russian PM Putin's annual phone-in
Thu, Dec 15 2011
Analysis: Putin critics hit back over charge of Western funding
Tue, Dec 13 2011
Putin ally wants new liberal party after Russia protests
Mon, Dec 12 2011
Analysis & Opinion
Arab Spring, Russian Winter
Fragile and unbalanced in 2012
Related Topics
World »
Russia »
Russian Prime Minister Vladimir Putin attends a congress of Business Russia public association in Moscow, December 21, 2011.
Credit: Reuters/Yana Lapikova/RIA Novosti/Pool
By Gleb Bryanski
MOSCOW |
Wed Dec 21, 2011 9:19am EST
MOSCOW (Reuters) - Russian Prime Minister Vladimir Putin called on Wednesday for sweeping tax reforms to boost investment-led growth, while pledging to keep the rouble stable without imposing any capital controls.
Putin, seeking to return to the Kremlin at a presidential election next March, said he would seek to restore growth rates to the boom-era levels of the past decade while weaning Russia off its dependency on the price of its main export, oil.
"We have set a goal to propel the mechanism of economic growth to 6 percent minimum, but it would be better if it is 6-7 percent," Putin told a congress of Russia's small- and medium-sized business lobby, Delovaya Rossiya.
Putin has set a goal of lifting Russia's $1.9 trillion economy, now the world's 11th largest, to fifth in the global rankings by the end of this decade.
To achieve that, he wants to boost investment rates as a share of gross domestic product to 25 percent by 2015 from 20 percent now, which is less than half the rate in faster-growing China.
Economists say that the 2008-09 financial crisis has lowered the 'speed limit' for Russian economic growth, now running at just over 4 percent, and supply-side measures will be needed to overhaul Russia's consumption-driven economic model.
Putin gave no details of his proposed tax reforms, but a policy platform is expected to be ready by February.
"Generally it is obvious that today the country needs a decisive tax manoeuvre, a modern structure of the tax system is needed," Putin said.
"Money and investments are always heading where there is ... a high profit rate. Now it is the energy sector. And we must turn the flows into high-tech and industrial businesses."
Putin said that Russia would neither sacrifice prudent fiscal policy in a dash for growth, nor put at risk its achievements in bringing down inflation, set to end this year at a post-Soviet low of below 7 percent.
"We will continue doing everything necessary to ensure a stable rouble exchange rate and low inflation," he said.
He also rebutted calls to reimpose restrictions on capital movements as capital flight, driven by political uncertainty surrounding Russia's election cycle and risking risk aversion abroad, accelerates.
Net capital outflows from January to November reached $74 billion, accelerating in the run-up to this month's parliamentary election, in which Putin's ruling party saw its majority cut and which triggered popular protests against alleged ballot fraud.
Putin said that Russia, which lifted capital controls in 2006, would ensure "unconditional freedom for capital flows."
($1 = 31.9270 Russian roubles)
(Reporting by Gleb Bryanski,; Writing by Andrey Ostroukh, Editing by Douglas Busvine and Susan Fenton)
World
Russia
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Support
Corrections
Advertise With Us
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.