| Russia's GDP may grow by nearly 2% in 2010 | |
| Itar-Tass/PTI / Moscow October 21, 2009, 17:10 IST | |
Russia's Ministry of Economic Development expects the nation's GDP to grow by 1.6 per cent in 2010, but it may reach two per cent or even higher, the Deputy Minister of Economic Development said today.
The economic growth in the offing in Russia "is not so much the cause for optimism as the reason for serious work at the level of the state and business, Andrei Klepach said.
"The growth is not stable," he said, adding that it is based on the growth of accumulated reserves rather than on real invigoration.
The deputy minister also said the ministry goes by the forecast of the lowering of GDP by eight per cent on the results of this year.
Addressing the annual conference 'Russia and the CIS: Resumption of Growth', Klepach forecast the growth of GDP by 0.6 per cent in the third quarter of 2009 as compared to the second quarter.
"We expect a sizable growth of GDP in the fourth quarter — from 3 to 4 per cent as compared with the third quarter," he said. "The dynamics of GDP coincide with the dynamics of export and the growth of hydrocarbon and metal prices.
He forecast that GDP will grow 3-5 per cent in 2011-2012.
Even with the negative dynamics of oil prices, Russia's economy will have a good potential for growth in the years ahead, the minister said.
|
Content Guide
