Economy Ministry's Official Forecasts Inflation In Russia In 2002

The inflation rate will reach from 13 to 15 per cent in Russia next year, Muhammed Tsikanov, deputy economy minister, announced today. He also forecasted the GDP will rise 4 or 5 per cent and a rise in investments will make up more than 10 per cent. The profitability rate of the Russian economy is expected to amount to about 10 or 12 per cent. As we reported earlier, the 2002 budget draft stipulates inflation will be at 10 or 13 per cent. According to Tsikanov, the GDP went up 5.7 per cent in the first ten months of 2001 in Russia and a rise in the volume of investment was 1 per cent.