The process is developing in the right direction, the President said at the Russian-Turkish business forum. In spite of the pressure of petrodollars, the inflation can somewhat exceed the planned indices by the end of the year.
"Nevertheless, the trends are positive. The Central Bank and government manage to achieve the planned parameters in spite of the pressure of petrodollars," Vladimir Putin noted.
According to him, by the end of 2004 the gold and forex reserves of the Russian Central Bank will amount to $120 billion ($1=27.84 rubles).
In the end of the year industrial growth in Russia will total 6.7-6.8%, the President added.
"Our basis agreement is the stable GDP growth over four years," the Russian leader said.
"Industrial growth totaled 6,2% in January-October 2004. By the end of the year this index will be 6.7-6.8%," Vladimir Putin said.
