Source Pravda.Ru

Russian GDP growth rate exceeds pre-crisis level by 20%

At a Thursday press conference, resident representative of the International Monetary Fund (IMF) Paul Thomson said that Russia's economic growth rate exceed the 1998 pre-crisis level by 20%. IMF experts believe that there are grounds to consider the forecasts of 4% GDP growth for next year made by the Ministry of Economic Development and the World Bank to be sufficiently conservative.

RIA Novosti has learnt that a recent IMF report dedicated to trends in Russia's macroeconomic and economic policy states that, following the drop in economic growth in the 2001-2002 autumn-winter period, industrial production started to grow again in spring. Figures for the five main industrial sectors and various economic indicators point to continued growth in the third quarter.

The International Monetary Fund also believes that this year's bounty harvest led to increased economic growth.