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. Last Updated: 07/27/2016

Production Decline to Slow

The Russian production slump is expected to slow next year as trade between enterprises returns to normal and inflation is brought under control, according to a government forecast on Wednesday.


Andrei Nechayev, the economics minister, said in his report that gross national production would fall by 5 to 8 percent in 1993, compared with a 22 percent drop in 1992.


He predicted industrial output will decline by 7 to 10 percent in the coming year, against a 20 percent drop expected for this year. Nechayev's government forecast was reported by Itar-Tass.


The drop in production has become a rallying cry from industrialist leaders, who say the fall has been caused by the government's radical reform plan.


Economists for the opposition Civic Union bloc have estimated that production will fall as much as 50 percent by the end of this year.