Source Pravda.Ru

Government plan for industrial growth may be implemented

By the end of the year, the strength of Russian producers decreasedconsiderably. Industrial growth amounted to just 3.4 percent in August 2002as compared to August 2001, while in June and July 2002 it reached 4.4percent and 7.8 percent respectively. Though the results of the first eightmonths of the year (3.8 percent) are slightly behind this year's forecastsof government economists, experts are not inclined to exaggerate thesituation. They believe that it is quite possible to reach the 4-percentgrowth level planned by the government.According to the data the State Statistics Committee posted yesterday,industrial growth amounted to 3.4 percent this August against thecorresponding period of 2001. As compared to July 2002, the total volume ofproducts manufactured gained 1.8 percent. However, the similar figures ofthe two previous months were much more attractive: 4.4 and 2.4 percent inJune, and 7.8 and 7.4 percent in July. Still, if one excludes the'calendar' factor (this August was one business day shorter than lastyear's), the situation is different. According to the results of the firsteight months of 2002, the industrial growth reached 4.2 percent, including4.9 percent in August 2002, while it gained 6.1 percent in June and 6.2percent in July, the Izvestia newspaper reported..