Next Year To Raise Russian Gdp 4%, Say Experts

Russia's gross domestic product will increase 3.5-4% next year, say preliminary expert estimations of the Ministry of Economic Development and Trade. Final forecasts will be made May 24, when the cabinet considers basic indices of next year's draft federal budget, Hermann Gref, Minister of Economic Development and Trade, said to the mass media. He cannot be sure about tentative rouble/US dollar rates from which budget indices will proceed. Estimates will base on an expected annual 12% inflation pace, was the only related figure the minister could quote. Budget estimations will proceed from one of the several available options, with petroleum prices expected close to $17 a barrel, average contract price of URALS oil. Basic budget estimations will follow from related figures. Extra revenues with a more beneficial economic situation will make up a budgetary stabilisation fund, announced Hermann Gref.