15 December 2004 14:37
Russia`s Economic Ministry issues economic growth forecast
Russia's gross domestic product (GDP) growth is forecast in the range of 4.5-6.2 per cent in 2005, according to the draft programme of Russia's social and economic development for 2005-08, released by the Economic Development and Trade Ministry on Tuesday [14 December].
The forecast is made assuming that the price of Russian Urals oil blend stands at 31 dollars per barrel.
According to the programme, the Russian economy may grow 4.5-5.8 per cent if the price of Russian Urals oil blend stands at 31 dollars per barrel. GDP growth is expected at 4.8-6.0 per cent, if the price rises to 33 dollars per barrel. GDP growth is seen at 5.0-6.2 per cent, if the price rises to 35 dollars per barrel.
In 2006-10, GDP growth is forecast in the range of 4.6-6.2 per cent with the price of Urals oil blend amounting to 30.5 dollars per barrel. If the price increases to 33.5 dollars per barrel, GDP growth is expected at 5.0-6.5 per cent. If the price rises to 35 dollars per barrel, GDP growth is seen at 5.1-6.6 per cent.
In 2011-15, GDP growth is forecast in the range of 4.2-7.2 per cent with the price of Urals oil blend at 32.5 dollars per barrel. If the price increases to 35.5 dollars per barrel, GDP growth is expected at 4.5-7.3 per cent. If the price increases to 37 dollars per barrel, GDP growth is expected at 4.6-7.4 per cent.
Source: Prime-TASS news agency, Moscow
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