28 May 2004 16:47
Ministry revises 2004 industrial output growth forecast upwards to 6.3 per cent
Moscow, 28 May: Russia's Economic Development and Trade Ministry has revised upwards its forecast for industrial
output growth to 6.3 per cent this year from 5.9 per cent projected earlier, Andrey Klepach, director of the
ministry's macro-economic forecasts department, told reporters today. In 2003, the figure stood at 7 per cent.
According to the ministry's forecast, industrial output growth is expected at 5.8 per cent in 2005, at 5.6 per
cent in 2006 and at 5.7 per cent in 2007.
Output is expected to slow down due to expected oil production decline and "higher pressure by imports" on
Russian industry, Klepatch said.
"Every additional percentage point of industrial output growth will be harder and harder to achieve," he
said.
[Prime-TASS news agency] |
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