Economy Ministry forecasts rise in income of Russian citizens

According to a forecast released by the Russian Economic Development andTrade Ministry, income of individuals will surge by 56-61 percent through2005 in Russia. A source in the ministry specified in an interview with RBCthat this data was mentioned in the Russian social and economic developmentforecast for 2003-2005. This forecast will be presented by Economy MinisterGerman Gref at the Cabinet meeting tomorrow.According to the forecast, the subsistence level will be at RUR 2,080(about $65.97 at the current exchange rate) by 2003 and RUR 2,500 ($79.28)by 2005. The Ministry also predicted a reduction in the poverty rate inthis country in 2003-2005. In 2002, the number of citizens with incomebelow the subsistence level was registered at 27 percent, and this figureis expected to go down to 26 percent in 2003, 25 percent in 2004 and 24percent in 2005..

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