International investors are once again interested in Russia due to its economic recovery, Daniel Sotler, head of global investment strategies for Renaissance Capital, told CNBC today.
"Gradually, the economy is returning to growth, oil prices are recovering, the rouble has already stabilised and Russia's economy showed growth in the third quarter of the year for the first time in two years,” Sotler said. “Russia is back on investors' radars.”
According to Renaissance Capital, Russia's GDP will grow by 1.7% in 2017 while the key interest rate, currently at ten percent, will likely be reduced by up to two percentage points.
It was reported on Jan. 25 that Qatar's QIA would invest two billion dollars in Russia.
Kirill Dmitriev, head of the Russian Direct Investment Fund, said at the end of last year that Russia and Japan were planning to create a joint investment fund.