However, Energy Minister named also the positive factors of economic growth. According to him, the engineering sector grew by 24.5 percent in January-February of 2005 when compared to the same period last year. ?This is a good factor,? Gref said.
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Russia Close To Investment Crisis»
Over the first two months of 2005 the growth of investments into Russian economy amounted to less than..
Russian Economy Minister German Gref said Monday that over the first two months of 2005 the growth of investments into the country?s economy amounted to less than 8 percent, which could mean a potential investment crisis.
Taking that news to the president Vladimir Putin, Gref noted that with the exception of 1993, investments have grown by more than 10 percent from year to year.
Also Gref pointed out such economic factors as smell growth of Russia?s oil extraction and oil processing industries. The minister said that the country?s GDP grew by 5.2 percent in February 2005 as compared to February 2004. In the first two months of 2005 gross domestic product grew by 4.4 percent compared with the first two months of 2004. Industrial growth in February amounted to 5.1 percent; investments grew by 7.8 percent, while salaries went up 7.5 percent.
However, Energy Minister named also the positive factors of economic growth. According to him, the engineering sector grew by 24.5 percent in January-February of 2005 when compared to the same period last year. ?This is a good factor,? Gref said.
However, Energy Minister named also the positive factors of economic growth. According to him, the engineering sector grew by 24.5 percent in January-February of 2005 when compared to the same period last year. ?This is a good factor,? Gref said.
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