Russia’s economic position is better than in other developing economies, Chief Executive Officer of VTB bank Andrey Kostin said on Tuesday.
“The position in Russia is even slightly better than on other developing markets. For example, we see the inflow of capital instead of outflow in recent months, we are actually the only country among developing economies where the corporate debt declined this year, that is, companies are borrowing less in the West – these are positive factors benefiting to operations of our leading companies,” Kostin said.
The “moderately tough” position of the Central Bank and the Finance Ministry in the budget sphere creates preconditions for the sustainable economic model, VTB Chief Executive said.
“Furthermore, considering that stock of our companies is currently undervalued, preconditions for investments into the stock market, including portfolio ones, are actually fairly good,” Kostin added.