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  Tuesday, September 17, 2019
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The International Monetary Fund reduced the forecast of the GDP growth in Russia to 6%
The International Monetary Fund reduced the forecast of the GDP growth in Russia to 6%, reads the IMF report published on its official Web site. In September the IMF assessed the Russian GDP growth at 6.6%. In 2006 IMF experts expect 5.5% growth of the Russian GDP. The inflation of consumer prices in Russia is forecasted at 11.8% in 2005 and 9.7% in 2006. At first the Russian government forecasted 5.8% GDP growth in 2005. In early April the Russian Economic Development and Trade Ministry revised the forecast given the new Urals oil price - $39 per barrel. Today the ministry forecasts 6.5% GDP growth. In 2005 the GDP growth in Russia may vary from 6% to 7% depending on different scenarios of economic policy implementation, head of the presidential expert department Arkady Dvorkovich told RIA Novosti. Deputy Economic Development and Trade Minister Andrei Sharonov believes that it is possible to comply with the planned inflation parameters in 2006 (7-8%) even if the cutoff oil price is increased to $20 per barrel for assignments to the Stabilization Fund. "This is real," Sharonov told journalists on Wednesday answering the question if it was possible to observe the planned inflation parameters if the cutoff oil price is increased to $20 per barrel as the government had proposed. At the moment the cutoff price is $20 per barrel. The government proposed to increase it to $27 in 2006. Finance Minister Alexei Kudrin came out against this proposal. In his opinion, this price is excessive and can increase inflation. According to Kudrin, the cutoff price should be raised to $25 per barrel. "It was a painful decision which was supported by everybody except the finance minister at the session of the budget commission," Sharonov said. He admitted $27 was worse than $25 for inflation. "The government agreed to the compromise to boost economic growth," he stressed
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