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.