MOSCOW, May 25 (RIA Novosti) - Consumer price growth in Russia could slow down to 7% this year, compared to 9% in 2006, and then down to 6% in 2008, the International Monetary Fund's representative in Russia said.
Paul Tomsen, speaking at a news conference Friday, said 7% is a relatively slow inflation rate, and that in order to sustain it, the Central Bank should be ready to switch to a more flexible exchange rate policy.
Tomsen also said Russia's economy will grow by more than 7% in 2007, and that there is no longer any threat of the 1998 financial crisis repeating itself in the near future.
According to Russia's monetary policy guidelines for 2007, inflation is expected to slow down to 6.5-8% from 9% in 2006. The economics ministry said earlier that the country's GDP had grown by an estimated 6.8% year-on-year in 2006.
