ST. PETERSBURG, May 24 (RIA Novosti) - The high rate of inflation in Russia, which has totaled 7.2% since the start of the year, is not deterring foreign investors, Economics Minister Elvira Nabiullina said on Monday.
The minister, speaking after a meeting of the organizing committee for the International Economic Forum to be held in St. Petersburg on June 6-8, said: "Inflation is currently in a zone that does not pose obstacles for foreign investment."
She also said that financial difficulties on global markets have had almost no impact on the Russian economy.
"Our economy is fairly resistant to these negative consequences," as growth in Russia is largely supported by domestic demand, the minister said.
