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Monday, January 31, 2005

World Bank head comments on Russian economy

RBC, 31.01.2005, Moscow 16:47:20.2005 will indicate Russia's further economic development, head of the Russian branch of the World Bank Kristalina Georgieva told RBC. According to her, investors dealing with Russia are optimistic about its prospects however, they were far more optimistic earlier. The Russian economic growth has slowed, she emphasized. According to her, among other reasons - higher producer price index due to the ruble strengthening. Personal income advanced more rapidly compared to GDP expansion, also contributing to this situation. Meanwhile, the implementation of some reforms also slowed in Russia, Georgieva stressed. She emphasized the importance of Russia's beating forecasts in 2005. The World Bank considers the medium-term strategy for Russia's economic development to be a very good one, although the government has not approved it as yet.

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