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Medvedev Says Russia's Investment Climate "bad"

Cash, Coins, Line GraphKRASNODAR, Russia. Oct 8 (Interfax) - President Dmitry Medvedev has described the investment climate in Russia as "bad."

"I believe that we have a bad investment climate. We have a great deal of achievements, but our investment climate is bad. We need to radically improve it, we need to arouse interest among Russian and foreign businesses. Business is business everywhere, and the same conditions must be provided," Medvedev said at a meeting with United Russia party activists.

Medvedev heads United Russia's ticket for December's parliamentary elections.

There are standard principles of business in civilized countries, one of which are lower official barriers, the president said.

Political stability is one more condition for a good investment climate, he argued.

"We must say yes to stability and no to stagnation. There is an enormous difference between stability and stagnation. It is the task of our party to achieve stability but to prevent a backslide to stagnation, especially because we had that during a well-known historical period," he said.

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