Central Bank's chief presents favourable assessment of country's macroeconomic situation to Russian President

Russian President Vladimir Putin and chairman of the Russian Central Bank Sergei Ignatyev discussed the macroeconomic situation in the country on Wednesday.

Ignatyev told the president that on the whole he assessed the macroeconomic situation as "favourable enough", and that it "does not arouse anxiety".

During the 6 months of the current year the inflation rate totaled 9 per cent, compared with 12.7 per cent in the same period last year, he said.

The Central Bank's chief expressed his hope that the annual inflation would reach 14 per cent, the rate forecast by the Central Bank and provided for in the 2002 budget.

Ignatyev also briefed Putin on the $8-billion growth of the country's gold and currency reserves that amounted to $42.5 billion, compared with the beginning of the year.

When touching upon the inflation tempos, he voiced the opinion that their decrease was explained by "confident execution of the budget", and by the budget's non-deficit.