CIS remains most dynamically developing region in world

CIS remains most dynamically developing region in world
22.04.2004, 00.39

WASHINGTON, April 22 (Itar-Tass) – The Commonwealth of Independent
States including Russia remains one of the most dynamically developing
regions in the world, said a new report of the International Monetary
Fund (IMF) on the condition and shortest prospects of the world
economy that has been prepared by the spring session of leading bodies
of the IMF and the World Bank.

Under the document the real GDP growth of six percent is expected in
Russia this year and 5.2 percent next year. Azerbaijan (8.1 percent
and 13.2 percent respectively) and Kazakhstan (8.0 percent and 7.5
percent retrospectively) are leading in this figure in the
CIS. According to IMF forecasts Ukraine will have the GDP growth of
six percent this year and four percent in the next few years, Belarus
– 4.8 and 3.5 percent respectively. The lowest growth rate is expected
in Uzbekistan – two percent in 2004 and 2005.

The IMF determines another key macroeconomic index, inflation rate
according to a special method – on average for a year. Under this
method the growth of prices in Russia is expected by approximately
11.2 percent this year and about 9.9 percent next year. The Russian
authorities that use the evaluation method from December to December
promise to keep inflation at the level of 8-10 percent this year.

The highest inflation rate in the CIS is expected in Belarus – 22.7
percent this year and 13.6 percent next year and the lowest rate in
Armenia – three percent a year.

According to IMF specialists, the world economic growth will reach 4.6
percent this year. A more moderate figure of 4.0 percent was named in
the previous report just half a year ago. It shows that the IMF is now
more optimistic about the condition of world economy. A new forecast
for 2005 that was also reviewed for increase envisages 4.4 percent of
global economic growth.