Reform require for economic growth in Russia, Brazil, China & India
14 Jun '06
3 min read
While praising rapid economic progress in Russia, Brazil, China and India, United Nations Secretary-General Kofi Annan said that further economic, political and other reforms were “essential” to distribute the gains more evenly and sustain the progress already made.
Mr. Annan's remarks were delivered at the 10th St. Petersburg International Forum by Marek Belka, Executive Secretary of the UN Economic Commission for Europe (ECE), to an audience of high-level policy makers, industrialists, bankers and representatives from various international organizations and financial institutions gathered in the Russian city.
Ministers of Economic Affairs of Brazil, India, China and Russia – countries that in recent years have been the world leaders in economic growth rate – are also attending the three-day event.
“The remarkable economic growth of Brazil, China, India and Russia has brought prosperity to many, and lifted millions more out of extreme poverty. Yet tremendous challenges remain. Economic gains have been unevenly distributed, and the ranks of the poor are still large.”
“Our challenge is to sustain the progress that has been achieved while addressing the remaining backlog of need. For this, further reforms – economic, political, legal, judicial and regulatory – are essential. We must clarify and institutionalize the rules underpinning investment and development, while increasing investments in health, education, training and research.”
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