17 June 2004 20:41
Russian economy needs new sources of growth - Gref
MOSCOW. June 17 (Interfax) - The Russian economy will exhaust the effect of the low ruble exchange rate that was set
after the 1998 crisis by 2007-2008 and is therefore faced with the task of creating new sources of growth, Economic
Development and Trade Minister German Gref said at a government meeting on Thursday.
"By 2007-2008 the real effective exchange rate of the ruble will exceed the pre-crisis level, and the moment of
truth will arrive in the Russian economy, when we will see how much it has been able to prepare itself and increase the
level of competitiveness, to be able to compete in costs with imported goods," Gref said. [RU EUROPE ASIA EEU EMRG
ECI MCE CEN] rd <>
[Interfax] |
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