The macroeconomic situation in Russia in 2002 was characterized by the slowdown of inflation, GDP growth, the advance in investments in fixed assets and the growth in real incomes of the population, the Central Bank reported. The positive character of these processes was the result of the monetary and credit policy aimed at decreasing the pace of inflation.
In December 2002 inflation was 15.1 percent, compared to December 2001. Industrial output grew by 3.7 percent last year, compared to 2001.
The nominal dollar rate against the ruble increased by 0.1 percent in December 2002 compared to November 2002, and by 5.5 percent compared to December 2001.
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