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 RUSSIA IN FACTS
04 February 2004 10:38
Real incomes rise 14.5% in 2003
Real personal incomes rose 14.5 percent in Russia in 2003, Labor Minister Alexander Pochinok said at a meeting with Russian President Vladimir Putin on Tuesday.

He said this reflected a real rise in inflation-adjusted personal incomes, Rossiya (Russia) television reported. At the same time, Mr. Pochinok said a number of Russians living below the poverty line had dropped considerably. According to him, 41.2m people lived below the poverty line in Russia in 1999, and the number dropped to 27.8m people by the end of last year.

He said about 20 percent of Russian citizens were still poor, but their number had significantly decreased in absolute figures. President Putin urged to take tough measures against employers who delay wages.

Overall, last year was very successful for Russia, politicians say. This is shown by a 6.6 percent GDP growth and a 12 percent inflation rate. These figures were quoted by Russian Prime Minister Mikhail Kasyanov at a government meeting at the end of last year. In his opinion, last year was one of the most successful years for Russia during the 12 years of reforms.

“A lot has yet to be done in order to preserve these trends, so that the year 2006 can be called a year when sustainable trends of economic development formed,” Mr. Kasyanov stressed.


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