exports although the quality of wheat has somewhat deteriorated as compared with the last he said. year’s harvest,” Apart from that, rice harvest is expected to reach 1.2 million tons, maize harvest six – million tons, sunflower harvest nine to ten million tons, and soy beans harvest from – – 900,000 to one million tons. He also spoke about plans for winter crops. Thus, he said, was initially planned to sow “It winter crops on an overall area of 17.8 million hectares but time has been lost in some regions, so the plans reduced to 17 million hectares.” will have to compensate what we have lost in terms of winter crops in the spring “We sowing campaign, virtually as we did last he added. year,” Russia must diversify or growth will stall, says regional expert by on Oct 03, 2011 at 07:01 Russia needs to diversify its economy or growth could be undermined, according to Renaissance Asset Management portfolio manager Takouhi Tchertchian. Echoing made by her colleague , Tchertchian said, while the country was blessed with masses of natural resources, the unrealised potential of infrastructure development will form a foundation of the economy in the future. country’s if Russia wants to remain a high growth country it needs to diversify its ‘Going forward, economy. For the last 10 years, real GDP growth has been over 5% per annum, which has mainly been driven by she said. commodities,’ is still very much dependent on oil, as well as gas, because Russia is the number one ‘It producer of oil and the number two gas and potash producer in the world. But it has become much more important to diversify into different areas.’ Tchertchian made the comments while outlining the potential for the Russian firm’s Infrastructure Fund, which is a closed-ended fund devised by Renaissance in order to tap into infrastructure prospects in the country. is a high demand for investing in infrastructure in Russia. It has become even ‘There more acute in recent years, and that is because we have had decades of under she said. investment,’
exports although the quality of wheat has somewhat deteriorated as compared with the last year’s harvest,” he said. Apart from that, rice harvest is expected to reach 1.2 million tons, maize harvest – six million tons, sunflower harvest – nine to ten million tons, and soy beans harvest – from 900,000 to one million tons. He also spoke about plans for winter crops. Thus, he said, “It was initially planned to sow winter crops on an overall area of 17.8 million hectares but time has been lost in some regions, so the plans reduced to 17 million hectares.” “We will have to compensate what we have lost in terms of winter crops in the spring sowing campaign, virtually as we did last year,” he added. Russia must diversify or growth will stall, says regional expert by on Oct 03, 2011 at 07:01 Russia needs to diversify its economy or growth could be undermined, according to Renaissance Asset Management portfolio manager Takouhi Tchertchian. Echoing made by her colleague , Tchertchian said, while the country was blessed with masses of natural resources, the unrealised potential of infrastructure development will form a foundation of the country’s economy in the future. ‘Going forward, if Russia wants to remain a high growth country it needs to diversify its economy. For the last 10 years, real GDP growth has been over 5% per annum, which has mainly been driven by commodities,’ she said. ‘It is still very much dependent on oil, as well as gas, because Russia is the number one producer of oil and the number two gas and potash producer in the world. But it has become much more important to diversify into different areas.’ Tchertchian made the comments while outlining the potential for the firm’s Russian Infrastructure Fund, which is a closed-ended fund devised by Renaissance in order to tap into infrastructure prospects in the country. ‘There is a high demand for investing in infrastructure in Russia. It has become even more acute in recent years, and that is because we have had decades of under investment,’ she said.
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