World Bank changes forecast for Russia's GDP

Russia's GDP will amount to 5.5 percent in 2003, chief economist of the Russian office of the World Bank Christoph Ruhl reported today. According to him, the World Bank has slightly increased the forecast of Russia's 2003 economic growth.

Additionally, the World Bank's forecast for the Russian inflation rate in 2003 is at 12 to 13 percent, which is a bit higher compared to the Russian government forecast. Commenting on the task set by President Putin to double Russia's GDP by the year 2010, Ruhl said the plan was too ambitious, as its implementation would necessitate no less than a 10-percent annual growth.