TOKYO, February 11 (RIA Novosti) - Russia's GDP could grow by 7% in 2008 instead of the planned 6.6%, while food prices are unlikely to follow last year's trend of sharp increases, Finance Minister Alexei Kudrin said.
Speaking in Japan at a meeting of finance ministers from the G7 group of industrialized nations plus Russia, Kudrin said Russia had a good chance of keeping inflation within 8.5% in 2008.
According to Russia's statistics service, the country's GDP grew 8.1% in 2007.
In the past five years, the Russian economy has grown at an annual rate of 7% plus, except for 2005, when GDP expanded 6.4%. In 2006, GDP grew 7.4%.
Inflation in Russia stood at 11.9% in 2007, exceeding the government's initial target of 8% for last year. Inflation in 2006 was 9%, in line with government targets.
