Source Pravda.Ru

German Gref: Russia's GDP growth in first five months makes up 7.1%

In the first five months of 2003, GDP growth made up 7.1 percent and the industrial output growth - 6.7 percent, Russian Minister of Trade and Economic Development German Gref told Russian President Vladimir Putin at a routine meeting between the Russian President and the Cabinet.

Moreover, according to German Gref, incomes of Russian citizens have increased by 14.5 percent in the first five months of 2003.

In comparison with April, industrial output growth in May was 0.8 percent and GDP growth - 0.5 percent.

According to Mr. Gref, "a certain growth has been registered in all industry sectors except agriculture, light and electric technical industry." Metal processing industry is developing rapidly, German Gref said.

Mr. Gref described the 11-percent growth of investments in Russia in the beginning of 2003 as very positive.

Accumulated inflation during this period made up 7.1 percent, last year it was 8.4 percent in the same period.

Mr. Gref does not think the inflation rate will increase in the latter half of 2003, as the tariffs for the natural monopolies' services are fully controlled.

Vladimir Putin drew Mr. Gref's attention to the fact that it was necessary for the Russian State Duma (the Lower Chamber) to settle the issue concerning a decrease or withdrawal of obligatory foreign currency revenues sale.

Comments
Russia's and China's gold may end global domination of US dollar
Unveiled: Secret Pentagon UFO program. From science fiction to science fact
Russian poultry stuffed with antibiotics and dangerous bacteria
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
Call girl dies of asphyxia in bizarre sexual encounter
Call girl dies of asphyxia in bizarre sexual encounter
Call girl dies of asphyxia in bizarre sexual encounter
German experts name Russia's most dangerous weapon
Russia to impose sanctions on WADA for Winter Olympics 2018
Russian Guard to see enemies behind walls
What will happen if USA freezes Russian dollar assets?
Ukraine suspicious about Russia's intention to give away rusty ships to Kiev
Russian Armed Forces to receive second-to-none gliding bomb
Euro-Islam: New religion to break migrants in EU
Euro-Islam: New religion to break migrants in EU
Euro-Islam: New religion to break migrants in EU
Euro-Islam: New religion to break migrants in EU
Turkey distances itself from Russia to plunge Syria into greater chaos
Terrorists work on another 9/11 for USA
USA will seize Kuril Islands immediately if Russia delivers them to Japan
Russia to impose sanctions on WADA for Winter Olympics 2018