MOSCOW, July 15 (RIA Novosti) - The 2006 budget will "create conditions for an investment breakthrough in Russia", State Duma vice speaker Vladimir Pekhtin told journalists Friday. Pekhtin said the heads of the State Duma and Finance Ministry agreed that establishing effective mechanisms to attract private capital would help the country implement large-scale infrastructure projects in a variety of sectors, including the transport, agriculture, and energy sectors.
He said that the 2006 budget envisaged the creation of an investment fund.
Pekhtin said developed infrastructure would improve the investment climate and would boost the development of small and medium businesses. "Experts estimates that the population is holding on to $100 billion," he said.
He said that if advantageous economic conditions were created, people would invest some of this money in business, and that this would help the country achieve its goal of doubling GDP.
Pekhtin said deputies would soon submit specific proposals on the 2006 budget macroeconomic parameters.
