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  Thursday, October 22, 2020
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The year 2005 was successful for the Russian economy
The year 2005 was successful for the Russian economy, Russian Finance Minister Alexei Kudrin said Thursday in an interview with RIA Novosti. "In the past five years, the Russian economy has been developing at record high rates," Kudrin said. Russia has created good conditions for the economy and investment, and citizens' wages and incomes are growing, the finance minister said. "From January 1, 2006, the government will raise the servicemen's money allowance by 15% and wages in the budget-dependent sector at the federal level will rise by 27%. Wages in the budget-financed sphere in regions will also go up," Kudrin said. The finance minister was optimistic about next year. According to Kudrin, next year Russia will see GDP growth come in at 5.8%, which will be above the global average. He said Russia would reach a record low level of inflation in 2006 for the past 15 years at just 8-9%. The 2006 federal budget surplus would exceed 1 trillion rubles (about $35 billion).
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