June 16th, 2011
12:00 PM GMT
Stanislav Voskresensky, Deputy Minister of Economic Development, talks about the future of Russia's economy.
He says that although some of the factors that provided high growth rates in the past have gone, he was "betting" on new factors, like investment, infrastructure projects and increased productivity to grow the economy.
He added that Russia's economy will be diversified further and that the country's infrastrucure was more advanced than that of China and India.
"Our (infrastructure projects) is more about modernization than building new things," Voskresensky said.
CNN's John Defterios also asked him about the government's plans to privatize 900 companies.
"We are hiring investment bankers to help us... it is important how we do it and not how many," Voskresensky said.
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