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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: Real Man who wrote ()4/13/1998 2:47:00 PM
From: Real Man   of 1301
 
MOSCOW, April 13 (AFP) - Russia's industrial output increased by
1.3 percent year on year in the first quarter of 1998, Interfax news
agency reported, citing the state statistics committee.
January year on year growth was 1.5 percent, while growth in
February was 1.4 percent and in March 1.2 percent, the agency
reported.
Russian industrial output rose 1.9 percent in 1997 year on year,
the first annual increase since market reforms were launched in
1992, but industrial output in 1997 was still just 49 percent of
1990's total.
Russia's market reforms swept away massive Soviet-era state
subsidies, especially for heavy military industries, bringing many
factories to a standstill.
Industry was also crippled by the virtual collapse of barter
arrangements between enterprises in Russia and others in ex-Soviet
republics.
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