According to 'The Forecast of Economic and Social Development of theRussian Federation in 2003 and Main Parameters throughout 2005' prepared bythe Economy Ministry for today's government meeting, the energy productionvolume is planned to be 911bn to 925bn kilowatt/hour in 2003, which is102.1 to 103.7 percent compared to the estimated volume in 2002. Thisgrowth will be due to an increasing demand of main energy consumers. Theincrease in the energy production at thermal power stations will be fromfour to six percent and at nuclear power stations from three to fivepercent. However energy production at hydroelectric power stations isexpected to decrease by one percent. In 2005 the energy production mayreach a level of 934bn to 963bn kilowatt/hour, which is 105 to 108 percentcompared to the 2001 level, the Ministry states in its report.Among priorities of the energy sector development in the forecasted periodwill be the improvement of an efficient use of current facilities of energygenerating enterprises, their technical upgrade and reconstruction,installation of highly economical power generating units with steam-and-gascombined cycle and nuclear power generating units. The Ministry expectsthat the government measures aimed at the restructuring of the energysector and the execution of the balanced price and fiscal policies willpromote the development of economic competitiveness and activation ofinvestment policy in the industry. .
Russia has left the list of 33 largest holders of US government bonds, after the country disposed of at least a third of remaining bonds