Russia's industrial production rose 10 percent in first seven months of 2000
Industrial production grew by 10 percent in the
first seven months of 2000, Prime Minister Mikhail Kasyanov told a
government meeting Monday.
The growth figure confirmed that Russia's economy remains strong
after more than a year of growth that has been spurred by high
prices for oil and natural gas, key Russian exports. Kasyanov did
not specify which sectors posted the strongest growth.
Russia's economy contracted for almost a decade before 1999.
Recent economic growth has some analysts concerned about new
inflation. Kasyanov said the government would contain price rises
by official decree if necessary.
Kasyanov also said the government wants to reform the state
railroad and electricity monopolies, but must make sure that higher
energy or cargo transport prices also don't ignite inflation.
The government "must not make any unfounded decision on raising
tariffs to avoid stimulating inflation, while it has to carry out
the restructuring of two natural monopolies,'' Kasyanov said.