15 Jul 2009 19:21

Fixed capital investment to grow 0.4% in 2010, 5.7% in 2011, 9% in 2012

MOSCOW. July 15 (Interfax) - Fixed capital investment in Russia will grow 0.4% in 2010, 5.7% in 2011 and 9% in 2012, the Economic Development Ministry said in a forecast for the period 2010-2012 released on Wednesday.

The government approved a base economic development scenario for 2010-2012 on Monday.

Under this scenario, the federal budget deficit will be restricted to 6.5% of GDP in 2010, 4% in 2011 and 3% in 2012. The forecast was compiled based on a conservative expectation that Urals oil will trade at $55 per barrel in 2010, $56 in 2011 and $57 in 2012.

The ministry said earlier it expects fixed capital investment to decline 21.4% in 2009.