MOSCOW, August 1 (RIA Novosti) - Russia's economics ministry has raised the country's GDP growth forecast for 2006 from 6.1% to 6.5%, a ministry spokesman said Tuesday.
"An updated forecast for GDP growth and other macroeconomic indices has been prepared and submitted to the Finance Ministry," the spokesman said. "Next Monday, the forecast will be forwarded to the cabinet."
The spokesman said this year's GDP growth forecast had been revised due to the increased price forecast for Urals crude for 2006 from $62 to $65 per barrel.
The oil price forecast for 2007 has been raised from $58 to $61, and the GDP growth forecast from 5.7% to 6%.
GDP grew 6.5% in the first half of 2006 and by 6.9% in June, the economics ministry said in a report last week.
