Russian economy rising due to oil prices

The development of the Russian economy is proceeding its upward direction because of the high oil prices. In the 9 month appraisal -Jan. – Sept. 2006- Russian GDP increased by 6,6% compared with that of 2005. Moreover the Russian goverment expects a rise for the whole of 2006, around 6,8%. The initials estimates a year ago were for a 6% rise, since then though the oil price index has increased rapidly and so have the revebues for the most important sector in modern day Russia.

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