20:35
[Tuesday 21st August, 2001]
Unemployment level drops to 8.3%
MOSCOW - The unemployment level dropped from 9.2 to 8.3 per cent in
July, 2001, a source in the Russian State Statistics Committee reported to
RosBusinessConsulting.
1m unemployed people were registered in various state unemployment
institutions last month. This makes 1.4 per cent of the active population of our
country. The number of economically active people reached 71m by the end
of July 2001, i.e. 50% of the total population of Russia.
Russian people are mostly occupied in big and medium businesses. In June
2001, 41.3m people worked there, i.e. 63.5% of all
employees. /RosBusinessConsulting/
17:20
[Tuesday 21st August, 2001]
Russia’s GDP expected to grow
MOSCOW - Russia’s GDP would grow 3.8 to 4.4% annually in 2001- 2004,
said Vladimir Fridlyanov, senior official of the Russian Science and
Technology Ministry, at a meeting of the Ministry’s Board yesterday.
According to Vladimir Fridlyanov, there are two macroeconomic forecasts for
the country. The first one envisions an oil price of $17 per barrel on the world
market and a 3.8% GDP annual growth in 2002-2004. The second forecast
proceeds from a $22-23 oil price and a 4.4% GDP growth.
The inflation rate is expected to lower from 18% in this year to 8-10% in 2004,
according to the first scenario, and to 7-9% - to the second one. The first
forecast envisions a 5-7% growth in investment annually, and the second –
7.5%. Industrial production will grow by 3.6% annually, according to the fist
forecast, and by 4.4% - according to the second.
Industrial production growth regarding a number of industries controlled by the
Russian Science and Technology Ministry is expected to grow by 103.2 to
104.4% in 2002, 103.1 to 104.3% in 2003, and 104 to 104.5% in 2004, which is
116 to 120% compared with 2000. The largest growth in industrial output in
2004 is expected in chemical and petrochemical industries, 131.7% compared
with 2000, as well as in engineering and metal-working industries – 130.4%,
light industry –119.2%, and wood, woodworking and cellulose industries –
117.5%.
Ferrous and non-ferrous metallurgy is forecast to grow by 104.6% and
108.2% respectively by 2004, compared with 2000. Important changes in the
structure of Russia’s industries are expected to take place: the share of
engineering and metal-working industries will grow dramatically, and the share
of energy and export-oriented industries will decrease considerably. At the
same time, the share of consumer-oriented industries will
grow. /RosBusinessConsulting/
14:07
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