President Dimitry Medvedev seems to understand that sustaining economic growth will not be easy: oil prices cannot rise forever, and the “low hanging fruit” of basic reform and prudent macroeconomic policies have already been picked. But yawning inequality and rampant corruption remain serious obstacles to realizing his goal of encouraging private initiative.
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MOSCOW – Dmitry Medvedev’s election as Russia’s new president was virtually guaranteed. Whether or not he can improve Russia’s economy after he takes office in May is far less certain.