IMF forecasts 4.4% economy growth in Russia in 2002
Jul 10, 2002
On Tuesday, John Odling-Smee, head of the second European department of the International Monetary Fund, stated during the Vienna-Washington TV link-up that, according to the IMF's forecast, Russia's economic growth rate at the end of 2002 would amount to 4.4%.
According to the forecasts made by the Russian government, the economic growth rate in the current year will make 3.5-4.2 percent.
In the opinion of the IMF official, Russian President Vladimir Putin and the Russian government are active carrying on reform. Odling-Smee stated that the recently adopted laws on, for example, ownership of farmland, testified to the above. He said it pointed to Russia's respect for private ownership rights and would also help create a more favourable investment climate. According to the IMF representative, the significant part of the total volume of investments into the Russian economy was made up of those investments which came back to Russia from abroad as a reaction to improvement of the investment climate.
Odling-Smee opined that in the mid-term prospective the Russian GDP index would be one of the highest in the CIS region.
According to the forecasts made by the Russian government, the economic growth rate in the current year will make 3.5-4.2 percent.
In the opinion of the IMF official, Russian President Vladimir Putin and the Russian government are active carrying on reform. Odling-Smee stated that the recently adopted laws on, for example, ownership of farmland, testified to the above. He said it pointed to Russia's respect for private ownership rights and would also help create a more favourable investment climate. According to the IMF representative, the significant part of the total volume of investments into the Russian economy was made up of those investments which came back to Russia from abroad as a reaction to improvement of the investment climate.
Odling-Smee opined that in the mid-term prospective the Russian GDP index would be one of the highest in the CIS region.