The government is quite economic in economic growth

Russian Prime Minister Mikhail Kasyanov states that according to the results of 9 months, the Russian economy as a whole has developed normal pace. Normal pace is 4% of GDP growth in the year predicts the prime minister.

Nevertheless, he notes that "the structural transformation of the economy has not yet worked." In particular, 60% of this growth falls on the share of resource -oriented industries. By the way, this fact causes concern not only in the government. In their recent report, the World Bank experts did not fail to note that Russia could miss a great opportunity to reduce the degree of its chronic dependence on oil and gas exports.

In processing industries, production growth was lower. “This suggests that the fundamental support of the growth of the 2001 economy, which gave steady growth, was not properly used,” Kasyanov admits.

Real incomes of the population increased by more than 7%. However, the needs of growing demand are mainly satisfied due to imports. Over 9 months, the volume of imports increased by 12%, and export decreased by 1%. Kasyanov also stated that the share of the population with income below the subsistence level decreased to 30%, while in 2001 this figure was 33%. According to the prime minister, the Russians are not rich as fast as we would like.

The prime minister is also preoccupied with a low increase in labor productivity, investment and insufficient decrease in administrative barriers. He also expressed dissatisfaction with the swelling of the state apparatus. “These are factors that restrain the development of the economy at a higher rate than now,” Kasyanov noted.