July inflation in Russia to amount to 0.6 - 0.7 percent

According to the forecasts of the Russian Ministry of Economic Development and Trade, the July inflation in the country will amount to 0.6 - 0.7 percent.

Deputy Minister of Economic Development and Trade Arkady Dvorkovich spoke about it at the news conference on Friday.

The deputy minister also said that according to the ministry's forecasts, this year the rouble will strengthen its positions with regard to the dollar by 12-13 percent, and with regard to the so-called "currency basket" - by 4-5 percent.

The ministry forecasts the average annual rouble exchange rate to the dollar this year at the level of 30.9 roubles, and in 2004 - 31.3 roubles. Arkady Dvorkovich pointed out that the latter figure was corrected by the ministry towards lowering. Earlier, the ministry forecast the average annual rouble exchange rate in 2004 at the level of 31.9 roubles.

In the second half of 2003, according to the ministry's forecasts, the price of oil of the "urals" brand will amount to 26 dollars per barrel.

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Author`s name Editorial Team