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RIA Novosti

Business

Inflation of 6% unlikely in next 3 years - finance minister

22:03 15/12/2006
MOSCOW, December 15 (RIA Novosti) - It will be impossible to bring inflation down to 6% in the next three years, Russia's finance minister said Friday.

"We wanted less [than 6% by 2009] but that will not happen, partly because of rising gas tariffs" Alexei Kudrin said.

He also said the 2006 federal budget surplus will be 8% of GDP.

The government earlier approved a socio-economic development forecast for 2007 through 2009, assuming inflation projections of 6.5-8% in 2007, 4.5-6% in 2008 and 4-5.5% in 2009.

The Economic Development and Trade Ministry said earlier inflation in November was at 0.5%-0.6%

The ministry projects January-November inflation at 8%-8.1% against 10% in the same period of last year.

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