Economy Minister posts inflation and GDP growth in 2002

Russian President Vladimir Putin and Economic Development and Trade Minister German Gref discussed the main economic results of the year 2002. According to the president's press service, the Economy Minister reported inflation at 15.1 percent and a GDP rise of 4.1 percent this year. Other economic parameters of 2002 will correspond to earlier forecasts.

In addition, Gref informed Putin about the introduction of quotas on some imports, in the first place meat. Putin stressed these measures would protect domestic commodity producers and guarantee stable prices on the consumer market.

According to earlier forecasts of the Economic Development and Trade Minister, inflation was expected to reach 15 percent in Russia in 2002 while the 2002 budget envisaged inflation of 12 percent.