Russian Prime Minister Mikhail Fradkov estimated on Thursday the country's growth of gross domestic product this year would reach at least 6.4 percent and inflation would not exceed 11 percent.

Speaking at a cabinet meeting, Fradkov said industry and agriculture are reviving although inflation exceeds the target.

Investment in fixed assets is expected to exceed 10 percent year-on-year. "These indicators are not bad. They inject confidence in economic development in the near future," Fradkov said.

Russia's GDP grew 5.4 percent in the first half of this year. The growth rate has cast doubt over President Vladimir Putin's target of doubling the country's GDP by 2010.

Economic Development and Trade Minister German Gref said in June that Putin's target of doubling GDP in the next five years was "not realistic."

To meet the target, the Russian economy will have to grow at an average annual rate of above 7.0 percent.

Source: Xinhua