Speaking at a news conference today, he said Russia had seen an average annual GDP growth rate per capita of 7.4% in 1999-2004. In 2003-04, the figure was 7.8% a year, and GDP growth in absolute terms was 7.25% a year.
"Such economic growth will not only help double GDP in ten years but even sooner," Illarionov said.
He said world history has seen many examples of doubling GDP in 8-10 years. The countries that reached the highest economic growth rates include South Korea, Malaysia, Qatar, Iraq, and Equatorial Guinea, said Illarionov.
He disagreed that investment in the Russian economy was falling, and cited the example of Japanese auto giant Toyota opening a car-making plant in Russia.
Last week, German Gref, the minister of economic development and trade, said the GDP could not be doubled by 2010. He spoke in favor of diversifying the economy and improving the investment climate: "I don't find it practical to throw hydrocarbon resources into the furnace to maintain the extensive growth."
In his state-of-the-nation address in 2003, President Putin set the goal of doubling GDP by 2012 taking the 2002 figure as the base. The president then said GDP could be doubled by 2010 if the current economic growth was maintained. This ambitious goal requires an average annual growth rate of 7.2% in the 2012 scenario, and 9% in the 2010 scenario.
According to official statistics, GDP grew by 4.7% in 2002, 7.3% in 2003, and 7.1% in 2004. The Economic Development and Trade Ministry forecasted a growth rate of 5.8% this year.
