RUSSIA: Moscow Says Growth Could Fall Below 5%
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Russia’s gross domestic product could grow less than 5% for all of 2001 if the pace of economic growth slows further this month, a government official said.
“If growth rates in December are at October and November levels, GDP growth for the year will be around 5%. If they are higher, it will be higher for the year. If they are lower, then it will be below 5%, but that is unlikely,” Economic Development and Trade Minister German Gref told a news conference. He said Russia posted zero growth for October and November.
The government’s original forecast for 2001 was 4%, but Russia posted 5.4% growth for the first six months of the year.
Reuters
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