Annualized economic growth in Russia to reach 4% this year

World Bank experts predict a 4% annualized growth in Russia this year. According to a RIA Novosti correspondent, the estimates were made public in one of the recent World Bank reports on the development of the Russian economy.

The Bank's experts find that the Russian Ministry for Economic Development and Trade has reviewed its GDP figures, down to 3.8% from the previously declared 4%, and the World Bank is inclined to accept the estimates. According to the report, in view of the rapid growth of population's real income, the motivating force of the economic growth in Russia remains consumer demand.

The World Bank believes that, in general, the Russian economy is doing well, continuing to show steady growth against the backdrop of poor performance by the rest of the world's markets.

The Wold Bank experts believe that the Russian authorities' confidence level on the part of business circles and consumers is record high for the post-crisis period.

Namely, the experts note that the reduction of the outflow of capital from the country is a positive factor. Back in 2000 the outflow figures showed 25 billion USD, in 2001 - 17 billion. This year's first half saw a 5-billion USD outflow.