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. Last Updated: 07/27/2016

State Sets Targets for 2004

Prime Minister Mikhail Kasyanov has signed a medium-term economic plan that targets steady gross domestic product growth and falling inflation by 2004, Kasyanov's spokeswoman said Monday.

The government approved a social and economic development program for 2002-04. It was drafted by the Economic Development and Trade Ministry in May and has since been amended.

The spokeswoman could not give details of the changes to the original draft. Kasyanov signed the plan late Friday.

The ministry said in a program posted on its web site (www.economy.gov.ru) that it aimed for real ruble appreciation that would allow for a 30 percent increase in imports by 2004 compared with 2000 levels.

Electricity output is expected to rise to 973 billion KWh by 2004, or a 9.6 percent to 11.1 percent increase from the 2000 level, and exports are expected to rise by more than 1.5 times.

Oil output would rise by 7.4 percent to 9 percent in the same period, while natural gas output would increase by 5.8 percent billion cubic meters to 618.1 bcm, which would allow Russia to export 190-204 bcm.

Key Economic Targets

Year20002001200220032004
Inflation* 20.214-1610-1310-138-10
GDP*8.35.03.52.64.0
Industrial Production*9.05.03.03.24.0
Foreign Direct Investment, $bln4.44.55.05.26.0
Export, $bln105.6105.596.193.094.6
Import, $bln44.950.353.153.257.5
Unemployment10.510.910.910.910.8
Budget Spending % of GDP13.515.414.714.113.8
*Figures are for growth in percentage terms
Source: www.economy.gov.ru