Economy Ministry forecasts 6% GDP growth in 2006

The GDP growth may amount to 6 percent in Russia in 2006, Russian Deputy Economy Minister Arkady Dvorkovich told journalists today citing the forecast of Russia's social and economic development in 2004 to 2006 submitted to the government last week. He stressed that this pace of the GDP advance was possible. He noted that this forecast was secured from the influence of external factors, so there were no serious grounds for crises. The forecast envisages a drop in oil prices and a growth in investments. The document takes into account the carrying out of tax and land reforms and the encouragement of small business development, he added.

The deputy minister admitted there could be some slight changes during this period, however they would not seriously affect the economy.