Source Pravda.Ru

Among CIS Countries Russia is Last but One for GDP Growth

Among the twelve CIS countries Russia holds last but one place for GDP growth in 2002. As a Rosbalt correspondent reports, this was announced by Russian Presidential Economic Advisor Andrei Illarionov at a press conference today devoted to the year 2002. He said that GDP growth in Russia for 2002 would be 4.1%. Only Kyrgyzstan had a lower figure.

According to Mr Illarionov GDP growth for 2002 was 11% in Kazakhstan, 6% in the Ukraine and Lithuania (Lithuania is not a CIS country but was part of the former Soviet Union). The presidential advisor said that Russia's fall from third place to last but one is due to an increase in government expenditure. 'Expenditure goes up when people try to solve problems at the expense of government control, which they were unable to solve by using economic means,' Mr Illarionov explained. He mentioned Canada as an example where the government is successfully cutting back on government expenditure and taxation. There GDP rose by 4.4%, whereas in other developed countries this figure was less than 2%.

Comments
Venezuela may expect another Panama scenario from 1989
12 signs of imminent war between the West and Russia
Exclusive Interview: Oliver Stone on Venezuelan Election
Russia will not be the only country to use Crimean Bridge
Kremlin wants foreign invaders out of Syria
The Royal Wedding and the Silly Season
Germany responds to USA's ultimatum about Nord Stream 2 project
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
Russians massively break traffic rules on Crimea Bridge
International study indicates ways to mitigate the effects of climate change on agriculture
12 signs of imminent war between the West and Russia
The Royal Wedding and the Silly Season
12 signs of imminent war between the West and Russia
12 signs of imminent war between the West and Russia
Argentina suggests Putin should reinstate gay propaganda for World Cup 2018
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture