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Russia's GDP to Grow 5.2 Pct Annually by 2010: Official Outlook
Russia's gross domestic product (GDP) is to grow by an annual average of 5.2 percent with inflation to be gradually reduced to six percent during 2005-2010 years, said the Russia's Strategic Development Center in an economic program presented to the Russian government this week.
GDP growth in 2000 will be five percent and 4.1, 4.6, 5.1 and 4.7 percent in the next four years respectively. GDP will amount in current prices to 5.837 trillion rubles (206.3 billion dollars) this year, then 6.964 trillion rubles (246.1 billion dollars) in 2001,7.907 trillion rubles (279.4 billion dollars) in 2002, 8.990 trillion rubles (317.7 billion dollars) in 2003 and 10.023 trillion rubles (354.2 billion dollars) in 2004, and from 2005 to 2010 will reach an annual average of 18.932 trillion rubles (669.0 billion dollars), predicted the center.
The annual average rise of consumer prices is expected at 13 percent this year, then 10, 11, nine and seven percent over the next four years, and will stand at an annual average of six percent from 2005 to 2010.
Under the program, the ruble rate by 2010 is to stand at an average 41.3 to the U.S. dollar; the country's foreign exchange reserves are to be at an average of 52.4 billion dollars from 2005-2010.
The ruble rate will average 28.4 to the dollar this year, then 30.3, 33.8, 34.5 and 35.2 for the next four years respectively, and stand at an average of 41.3 between 2005-2010.
The foreign exchange reserves are to hit 19.1 billion dollars by the end of this year, then 24.2 billion, 32.8 billion, 35.2 billion and 39.1 billion dollars over the next four years, with an average of 52.4 billion dollars from 2005 to 2010, according to the program.
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