Source Pravda.Ru

Russia's economic performance improves

The Russian government has noted the improvement of the country's economic performance.

2004 inflation will not surpass 10%, acting Vice-Premier Alexander Zhukov said at a meeting between the cabinet members and the president on Monday.

"Russia is, thus far, meeting the forecasts for 2004: price advance is unlikely to surpass 10%," said Mr Zhukov.

Within January-April, industrial output grew 7.4% compared to the same period in 2003, according to Mr Zhukov.

Machine-building and metal-working industries have grown the most dramatically - 15%. The building materials sector grew 10%, the food industry - 8%, the chemical and petrochemical industry - by 10%.

"The growth structure is not due to high oil prices," emphasized Mr Zhukov. Growth was noticeable in industries envisaging a high degree of processing.

Consumer prices over January-April grew 4.6%, Mr Zhukov said citing the figure for the same period last year - 6.2%.

"These set adequate conditions for further economic growth," said the acting vice-premier.

Economic growth somewhat slowed down in March but resumed later. April's growth into March constituted 0.7%-0.8%.

Industrial output went up 6.7% over the first four months of 2003, said Mr Zhukov.

Population's incomes increased 12.2% within January-April, while investment increased 12.6% against the similar period in 2003, according to Mr Zhukov.

An explosion of household gas occurred in a nine-storeyed apartment building in the city of Shakhty, the Rostov region of Russia. The blast destroyed two storeys of the building

Another apartment building explodes in Russia. Several people killed

An explosion of household gas occurred in a nine-storeyed apartment building in the city of Shakhty, the Rostov region of Russia. The blast destroyed two storeys of the building

Another apartment building explodes in Russia. Several people killed