Former Finance Minister Forecasts Rise In Russia's Economy In 2002

Russia will experience a 3 or 4 per cent economic rise in 2002, former finance minister Alexander Livshits, who is a deputy general director of Russky Alyuminy company now, forecasted at a press conference today. In other words, Russia's economic development will slowdown a little next year as compared to 2001. In addition, Livshits stressed it will be difficult for the government to restrain inflation within 11 or 12 per cent. In any case, the future economic situation will become more clear in December, when the government passes the tariff policy for 2002. The former finance minister believes that the inflation rate may reach 16 per cent in the event tariffs are higher than forecasted by the Ministry for Economic Development and Trade. Commenting on the dollar exchange rate next year, Livshits said it will most likely reach 32 to 34 rubles.