#5 - JRL 7301
Rosbalt
Russian Socio-Economic Programme for Next Two Years Approved
MOSCOW, August 26. Russian Prime Minister Mikhail Kasyanov has confirmed the Russian socio-economic programme, designed by the Russian Ministry for Economic Development and Trade, for the period up to and including 2005. The programme anticipates GDP growth of 5.2% in 2004 and 5.9% in 2005. Inflation is predicted at 8-10% and 6.5-8.5% respectively. Economic growth over the 2003-2005 period will come to between 15% and 18% depending on external economic factors. Production levels will rise by 14-17% over the next three years, the government revealed, thanks to the development of small businesses, especially in the services sector of the economy, and a cut in the number of outdated and ineffective goods and services in public administration. High rates of economic growth will provide a positive impact on Russian living standards. Real average income levels should be 24-28% higher in 2005 than they are at present. The share of the population living below the subsistence level will drop from 25% to 19-20%.
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