According to the WMF report on the prospects for the world economy development, 2003 saw the Russia's gross national product increase by 7.3 %. In 2004 it will amount to 6.0% and in 2005 - 5.3 %, says the document.
The gross national product is the cost of all the goods produced and services provided during the year with the use of state resources both within the country and abroad.
In Russia the economic growth is usually measured by another index - the gross domestic product (GDP). The GDP is the same thing but it includes the use of both foreign and state resources but within the territory of the country.
According to the Federal Service for Statistics, in 2003 Russia's gross domestic product equalled 7.3 % which coincide with the WMF figures.
The Ministry of Economic Development predicts that Russia's gross domestic product in 2004 will amount to 6.4%, and in 2005 - 6.2 %.
The WMF stressed that the forecast takes into account the common trends in economy, particularly oil price, which is going to remain at a level of $30 per barrel in 2004, and $27 - in 2005.
In the forecast it is predicted that the rate of inflation in Russia will decrease.
According to the WMF, the rate of inflation amounted to 13.7 % in 2003, this year it will be about 11.2 %, and in 2005 - 9.9 %.
The Federal Service for Statistics reported that the rate of inflation equalled 12 % in 2003. The Ministry of Economic Development predicts that the rate of inflation will amount to 10 % this year, and in 2005 it will equal 6.5 to 8.5 %.
