Russian Economy Continues to Grow

The volume of industrial production in Russia increased by 6% in the first quarter of 2003. As RTR television channel reports, this was announced today by Russian Prime Minister Mikhail Kasyanov at a government meeting. He emphasised that this is the highest level of growth recorded in the last three years.

According to the Ministry for Economic Development GDP is currently rising by 6.4%. Mr Kasyanov insisted that this growth is not only apparent in the oil and metal industry but also in other areas of the economy. 'The overall level of growth is gradually rising,' said the PM. 'Moreover, the measures taken by the government will ensure that these positive tendencies will continue over the next 2-3 years,' he added.