Russia could double GDP in 3-5 years - finance minister

Russia's finance minister said Friday that the government had a historical opportunity to influence the country's economic growth and double the GDP in three to five years. Alexei Kudrin said the main way to accelerate economic growth was to lower inflation.

"The lowering of inflation is one of the major structural, economic methods to increase economic possibilities, and Russia is, historically, on the brink of this," the finance minister said.

Kudrin also said it was necessary to restrict the appreciation of the ruble, which has consolidated by 50% over the last five years, RIA Novosti reports.