The slogan reads: "Ensure the GDP growth."
Russia's GDP stepped up 7.7 percent on year over 11 months of 2007 (vs. 6.7 percent a year earlier) and grew 7.4 percent on year in November.
Photo: Valery Melnikov
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Russia’s GDP Up 7.7 Percent in 11 Months
The growth in GDP was still rather high in November, though the pace slowed down a bit vs. October. Cleared of seasonal and calendar factors, the monthly gains in GDP averaged 0.6 percent point from January through November.
GDP stepped up 7.7 percent on year over 11 months of 2007 (vs. 6.7 percent a year earlier) and grew 7.4 percent on year in November, Russia’s Economic Development Ministry reported.
The accelerated pace of economy was fueled by high rates of investment growth, construction, processing industries, high consumer demand, where the impact of import in meeting domestic demand was registered in the environment of fresh growth in export.
The country’s foreign reserves narrowed $1.2 billion to $466.2 billion from December 14 to 21. The external surplus shed 9.5 percent on year to $117 billion in January to November.
Consumer inflation was 10.6 percent over 11 months. December inflation is preliminary estimated at 1.1 percent to 1.3 percent. The 2007 inflation is forecasted at roughly 12 percent.
The real effective ruble rate appreciated 0.1 percent in November 2007 and 4.6 percent over 11 months.
www.kommersant.com
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