04 June 2004 19:49
Zhukov says 3% annual inflation is viable task
MOSCOW. June 4 (Interfax) - Russian Deputy Prime Minister Alexander Zhukov said that the president's task of
bringing the country's annual inflation rates down to 3% is feasible.
"Undoubtedly, this task is not simple, but quite realistic," Zhukov said at the Corporate Governance and
Economic Growth in Russia conference in Friday.
"I think that given certain conditions, we will able to meet this target by 2008," the deputy prime
minister said.
Under Russia's three-year forecast, inflation is expected to slow down to 8% in 2005, 6%-7% in 2006, and 4%-6%
in 2007. ` "In 2004, our task is to meet our 10% inflation target. This is quite a viable goal. Our further plans
envision inflation slowing down to 3%-2% a year," Zhukov said.
Russia's stabilization fund, which is expected to total 300 billion rubles by the end of year, and the policy
the country in pursuing on foreign currency markets are crucial to this objective, he said. [RU EUROPE EEU EMRG ECI]
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[Interfax] |
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