Russia Vows to Maintain This Year's Economic Achievement

Russian Deputy Prime Minister and Finance Minister Alexei Kudrin Thursday, November 30, confirmed the government's intention to maintain the country's economic growth rate of 7 percent this year.

Kudrin said the government would try to prevent inflation rise and would work out measures to retain the "macroeconomic parameters."

Minister for Economic Development and Trade German Gref said on the same day that a 7 percent growth in the gross domestic product (GDP) is Russia's major economic achievement of 2000.

"Economic growth will bring in all the other things -- additional budget revenues and the solution of an enormous amount of problems that have accumulated over the past 10 years," Gref said.

"The repayment of debts to the budget and the beginning of structural reforms are long-term and extremely important government initiatives," he said.

Russian presidential economic advisor Andrei Illarionov announced Wednesday at a press conference that Russia's GDP is expected to reach about 7 percent this year, industrial growth 10 percent and growth in investments 20 percent. Exports are expected to increase by 40 percent and the real incomes of the population by 95 percent.

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