Google+
Рейтинг@Mail.ru
Pravda.ru

News » Economics

Bank of Russia promises to bring inflation down

13.08.2002 | Source:

Pravda.Ru

 

The Central Bank of Russia is going to focus its energies next year on reducing the inflation rate to 9-12 percent. And in the next three years, the Bank's ambition will be to bring the rate below 8 percent, the bank's press service announced.

In its policies, the Bank of Russia will stick to its floating exchange rate regime. In 2002, the rouble has risen by 2.6 percent against the dollar, but has dropped 4 percent against the euro. As for the consumer prices, they have this year been rising at a slower pace than the previous year. They rose 9 percent in the first six months of 2002, as compared with 12.7 percent in the same period of last year.

As far as the country's economic outlook is concerned, the Bank of Russia has unveiled two possible scenarios for next year, depending on how the world economy develops. World economic growth in 2003 is predicted at 2 percent or, in the best-case scenario, at 3-3.5 percent. In the former case, Russia's gross domestic product will grow by 4.4 percent while in the latter, 3.5 percent. In either cases, Russia will be able to maintain a sustainable balance of payments, the Central Bank assured.

©

&to=http://www.cbr.ru/eng' target=_blank>Central Bank

&to=http://www.rian.ru' target=_blank>RIAN

 
| More
1361

Popular photos

Most popular

Turkey and Russia can eliminate risk of new bipolar world order
Turkey and Russia can eliminate risk of new bipolar world order
Events in Ukraine and Syria, and recent tensions between the Western world and Russia, show that we have reached a new turning point in international relations based on trade and financial...
Conversation with Paul Craig Roberts: The Greek crisis
Conversation with Paul Craig Roberts: The Greek crisis
Greece was a good student of the IMF and the European Central Bank. But the policies implemented by the government to rationalize the Greek state budget have produced results contrary to expectations...
Система Orphus