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    Russia's GDP growth 7.1% in April, 7.7% in Jan.-Apr. - minister

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    MOSCOW, May 21 (RIA Novosti) - Russian GDP increased 7.1% in April and went up 7.7% in the first four months of 2007, the Russian economics minister told a presidential conference with the Cabinet Monday.

    German Gref said that industrial growth was 4.6% in April and 7.5% in the first four months of 2007, almost double the rate for the same period last year.

    Gref also said capital inflow into Russia hit $17 billion in April and $30 billion in the first four months of 2007, as Russian companies continued to hold initial public offerings (IPOs) to raise capital and compete successfully with western companies. "This is a record sum," Gref said adding that capital inflow was $41 billion in 2006.

    Fixed capital investment increased three-fold in the first four months of this year, the minister said. "Fixed capital investment grew 19.4% in April and 19.9% in the first four months [of 2007]," compared with 6.9% in the same period last year, Gref said.

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