World Bank optimistic on Russian reforms

RUSSIA - The World Bank's chief economist for Russia said he was cautiously optimistic about the outlook for the country, but banking reform and economic diversification were key tasks ahead.

Christof Ruehl said late on 9 August that his forecast for 2001 inflation was slightly above that of the government, but he saw inflation coming down next year.

Gross domestic product growth this year would be around five percent and slightly less in 2002, he added.

"We are cautiously optimistic, with the a

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