Russian President Vladimir Putin, left, his Chinese counterpart Hu Jintao, right, and Russian First Deputy Prime Minister Dmitry Medvedev, 2nd left
Photo: Dmitry Azarov
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China, Russia Boost Global GDP
International Monetary Fund has revised its GDP outlook for 2007 and 2008. The global economy is expected to annually gain 5.2 percent during two years, 0.3 percent above the initial estimate.
The outlook was revised on accelerated growth of GDP in developing countries, most of all in China, Russia and India. According to official data, Russia’s economy stepped up 7.8 percent on year in the first six months of 2007, prompting IMF to upgrade its 2007 forecast by 0.6 percent to 7 percent and improve the 2008 outlook by 0.9 percent to 6.8 percent.
But even this estimate appears rather conservative, as most capital banks forecast higher acceleration for Russia’s economy. Russia’s GDP will add 8 percent in 2008, Goldman Sachs predicted.
China’s economy soared 11.5 percent from June 2006 to June 2007 despite the desire of local bureaucrats to curtail the annual growth to 10 percent.
Europe’s economy is forecasted to increase 2.6 percent in 2007, the United States will step up 2 percent and Japan will have the 2.6-percent acceleration.
www.kommersant.com
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