17 June 2004 21:41
Russia`s GDP to grow by 6.6% in 2004 (Part 2)
MOSCOW. June 17 (Interfax) Russia's GDP is expected to grow by 6.6% and industrial output by 6.3% in 2004,
Economic Development and Trade Minister German Gref told a Thursday Cabinet meeting as he was presenting a forecast for
the country's development.
"The forecast is fairly demanding as it is based on a monthly increase of 0.6 percentage points," he
said.
If incomes continue to grow at the current rate, the amount of
people under the poverty line will decrease to 11% - 12% from the 20%
GDP has grown by 7.4% in January-March and industrial out by 7%, Gref said. These figures have been cleared with the
Central Bank, he said. ` "Increased exports with rising oil prices accounts for over one-half of the GDP growth,
while in cost terms exports increased by 24.8% on the same period in 2003 and imports increased by 22.6%," Gref
said.
The Cabinet expects oil prices to most likely remain at about $26 per barrel, he said. Our cautious forecast sets the
price at $20.5 per barrel, Gref said.
figure in 2003, he said.
"Incomes are to grow 2% to 3% a year faster than GDP. Real incomes will increase by 33% to 38% in 2004,"
Gref said. [RU EUROPE ASIA EMRG MCE ECI] ap aw
[Interfax] |
RUSSIA IN FACTS
