The Russian economy will grow 4.2-4.5 percent in 2011, Prime Minister Vladimir Putin said during his Q&A session with the nation on Thursday.
Russia's Economic Development Ministry expects the country's 2011 economic growth at 4.1 percent and 3.7 percent in 2012.
Putin said Europe’s economic growth was expected at 1-1.2 percent this year while next year many European countries will face zero growth or a decline in their gross domestic products.
“We are not happy with this because this factor may affect our economy,” the premier said.
The Russian premier said consumer price growth in Russia was expected at slightly over 6 percent this year, a record low level comparable with European levels.
“This is a very good indicator for Russia but we need to keep the downside inflation trend,” he said.
Russia’s Economic Development Ministry expects 2011 inflation at 6.5-7 percent. Economic Development Minister Elvira Nabiullina has said inflation may be below the upper boundary of the forecast range.
Putin said the results of 2011 were quite positive for Russia.
“As I said, GDP growth will reach 4.2-4.5 percent, industrial production will expand 5.1 percent and real wages will rise by 2.9 percent, even if not as quickly as we would like [them] to,” he said.
