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APEC Report: Russia's Economy Grow Five Percent in 2001
Russia's gross domestic product (GDP) will grow by five to 5.5 percent in 2001, according to a report released Thursday by the Asia-Pacific Economic Cooperation (APEC).
The country's industrial production will grow by five percent, agricultural production by 3.5 percent and investment in fixed capital by six percent, the APEC Economic Committee said in its report of the 2001 APEC Economic Outlook.
The report noted that the year of 2000 was "the best year" in a decade for the country's economy. "Almost all macroeconomic indicators marked significant economic growth," it added. The country's GDP grew by 8.3 percent in the year.
The main goals of economic policy for the period up to the end of 2001 and 2002 are step-by-step recovery of the real income of the people and the implementation of measures to reduce inflation and increase investment flows.
The report forecasts that the country's inflation rate, which was 120.2 percent in 2000, will be at 17-18 percent.
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