20 Apr 2010 15:34

GDP will grow more than 3.1% in 2010

MOSCOW. April 20 (Interfax) - The recession in Russia has ended, and GDP will very likely grow more than 3.1% this year, Prime Minister Vladimir Putin said at the State Duma on Tuesday.

"Since July of last year, the Russian economy has more and more confidently shown signs of recovery. According to the official forecast, the country's GDP should grow 3.1% in 2010. But there is a great likelihood that the growth rate will be above that figure," Putin said.

"The preliminary results of the first quarter of 2010 promote optimism. Industrial output grew 5.8% in the first quarter and real citizen income increased 7.4%," he said.

"All this allows us to say that the recession in our economy has ended. It doesn't mean the crisis is over, but the recession has ended," Putin said.

Inflation in Russia continues to slow, he said. "We need to strengthen that trend and at the very least get to an inflation level of 5%-6%," he said.

"In 2009, we resolved not only immediate problems, but also did not lose time for systemic reorganization. All that allows us to move without slowing out of crisis management, out of the crisis agenda towards steady innovative development," Putin said.