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Russia seeks ways to secure growth amidst global economic slowdown
Last Updated(Beijing Time):2012-12-27 09:55

The Russian government should find ways to maintain economic growth in the unstable global environment, Russian Prime Minister Dmitry Medvedev said Wednesday.

"Russia, with reservations, is exposed to the same risks. Unfortunately, the growth of basic macro-economic index has been slowing down," Medvedev told a government meeting.

Russia's GDP in November fell to 1.9 percent, compared with 4.9 percent in the first quarter of 2012. Industrial output in the country also fell to 1.9 percent in November, compared with 2.5 percent in the third quarter, the prime minister said.

The Ministry of Economic Development has earlier downgraded its forecast of the domestic demand growth in 2012 from 6.1 to 5.7 percent.

"We need to find the optimum way to preserve the relatively low inflation rate which is extremely important for us in a short and long terms, to keep budgetary rule we accepted, to give us opportunity of conducting efficient credit-monetary policy," Medvedev said.

Medvedev warned that the government has been reconsidering the GDP forecast for 2013 due to the unfavorable economic conditions - in particular, poor harvest this year and falling of foreign demands for Russian energy resources.

"We must think about what means we could possess to influence that situation," he said.

Among such measures, Medvedev named support of investment activities by offering investors tax credits, support of export- oriented producers, state support of infrastructure projects.

Source:Xinhua 
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