Russian GDP to grow by 7%, says finance minister

London, Tuesday, February 12, 2008 -- ARANCA NEWSTRACK – (aranca)
Feb. 13, 2008 - PRLog -- The Russian economy will post stronger than expected growth this year, according to the country’s finance minister.

Alexi Kurdin told reporters at a meeting of finance ministers from the G7 group of countries in Japan, that GDP growth is set to stand at around seven per cent this year.

This is up from preliminary forecasts of around 6.6 per cent.

The government is thought to have upwardly adjusted its projected growth figure in the wake of strong growth of 8.1 per cent last year.

Mr Kudrin said: "Even given the influence of some factors that could head downwards, we could secure seven per cent of GDP growth in 2008."

However, Mr Kudrin once again warned that inflation could climb as high as 8.5 per cent.

He continued: "This is linked to the fact that core reasons behind inflation in Russia are decreasing.

"Imports have been growing swiftly and the trade balance has been shrinking."

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