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GDP Outlook Upgraded to 6.2 Percent
Russia’s Economic Development Ministry has upgraded the 2007 outlook for GDP from 6.1 percent to 6.2 percent, Gennady Kuranov told reporters, pointing out that exactly this figure is set forth in scenario conditions of Russia’s social and economic advance in 2008 to 2010.
The elaborated conditions for scenario were submitted to the government on March 11, 2007, said Gennady Kuranov, deputy chief of the Macroeconomic Forecasting Department at Economic Development and Trade Ministry. The second adjustment of scenario conditions followed the curtailed outlook for inflation, which went down from between 5.5 percent and 6.8 percent to from 5.5 percent to 6.5 percent for 2009 and from between 5 percent and 6.5 percent to from 5 percent to 6 percent for 2010, Kuranov said.
But despite the increase in forecasted gains of GDP, the analysts strongly doubt it could be doubled by 2010, which is the president’s requirement. One of the skeptics is Economic Development Minister German Gref.
Russia will reach the 7-percent annual growth of GDP by 2012 to 2013, Gref predicted. But with this acceleration, doubling GDP will take no less than ten years.
The positive trend in economy has survived and the key task of the cabinet is to maintain the annual growth at 6.5 percent, the minister said, emphasizing that “exactly these dynamics will allow us to solve all problems in economy.”
www.kommersant.com
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