Russia's Prime Minister Mikail Kasyanov believes that next year, provided inflation continues to drop, Russia will be able to get out of the "inflation and stagnation period." Speaking at the St. Petersburg economic forum on Wednesday, the head of the Russian government stressed that "after achieving a drop in inflation in the current year and next year, we will be able to say that that stage is a matter of the past." Kasyanov noted that for the first time in the past few decades Russia has managed to ensure a considerable and stable economic growth. "It is obvious now that it is quite real to get the economy out of the inflation and stagnation quagmire -- we have almost done that now," said Kasyanov addressing the participants in the forum.
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