ST. PETERSBURG, May 25 (RIA Novosti) - Russia's finance minister said Thursday that ministry forecasts suggested inflation would be kept to below 5% in the three years and 9% in 2006.
"By April, inflation had hit a level lower than 10% for the first time, which is the lowest level in the last 13 years," Alexei Kudrin said. "I think will we keep inflation below 5% in the next three years."
Kudrin said inflation in 2006 would likely be 9%, just over the outside government target of 8.5% and almost 2% lower than last year's figure.
"If oil prices stay at this level - I shall say about $65 - then we generally have good prospects for keeping inflation at 9%," he said.
The mid-term program for the country's social and economic development for 2006-2008 the government adopted in December set inflation targets of 7-8.5% in 2006, 6-7.5% in 2007 and 4-5.5% in 2008.
Deputy Prime Minister Alexander Zhukov told the lower chamber of parliament Monday that the government had the goal of keeping inflation to less than 5% a year in the next three years, since the issue was vital for Russia's economy.
"I think this is one of the main objectives to increase investment in Russia and to improve the investment climate on the whole," he said.
