Pravda.ru

News » Economics

Bank of Russia promises to bring inflation down

13.08.2002 | Source:

Pravda.Ru

 

The Central Bank of Russia is going to focus its energies next year on reducing the inflation rate to 9-12 percent. And in the next three years, the Bank's ambition will be to bring the rate below 8 percent, the bank's press service announced.

In its policies, the Bank of Russia will stick to its floating exchange rate regime. In 2002, the rouble has risen by 2.6 percent against the dollar, but has dropped 4 percent against the euro. As for the consumer prices, they have this year been rising at a slower pace than the previous year. They rose 9 percent in the first six months of 2002, as compared with 12.7 percent in the same period of last year.

As far as the country's economic outlook is concerned, the Bank of Russia has unveiled two possible scenarios for next year, depending on how the world economy develops. World economic growth in 2003 is predicted at 2 percent or, in the best-case scenario, at 3-3.5 percent. In the former case, Russia's gross domestic product will grow by 4.4 percent while in the latter, 3.5 percent. In either cases, Russia will be able to maintain a sustainable balance of payments, the Central Bank assured.

©

&to=http://www.cbr.ru/eng' target=_blank>Central Bank

 







Popular photos


Most popular

Brexit to save Europe from a catastrophe
Brexit to save Europe from a catastrophe
The British citizens will have to say at the referendum whether they want to remain being a province of a German-dominated union, a conservative academic Rodney Atkinson, who is famous for his...
Russia unexpectedly loses India and Vietnam
Russia unexpectedly loses India and Vietnam
Washington has lifted the ban on the sale of lethal weapons to Vietnam. Analysts believe that the latest move of the US administration reflects the concerns about the growing military influence of...
Рейтинг@Mail.ru Rambler_s_Top100_Service