http://en.rian.ru/russia/20080608/109531170.html
Deputy PM expects Russia to become world's sixth economy in 2008
ST. PETERSBURG, June 8 (RIA Novosti) - First Deputy Prime Minister Igor
Shuvalov told an economic forum on Sunday that the Russian economy is likely to
become the world's sixth largest by the end of this year.
Addressing the 12th International Economic Forum in St. Petersburg, now in its
third day, the official also outlined the government's future role in the
economy, saying that while new state companies will be set up, the government
aims to limit its 'excessive interference' in the economy.
Shuvalov said: "For the past eight years, Russia has been developing. By the
end of this year we will become the world's sixth largest economy."
Russia, which joined the G8 in 1998, has now "become a fully-fledged member of
the world's largest economies. We are beginning to put behind us the severe
crisis of the last decade, and have given ourselves new goals - to become a
country with developed institutions, a modern democracy with a post-industrial
economic structure, and to build a global financial center."
A key goal of the government in the coming years will be to scale down its
dominant role in the economy, he said.
"Reducing excessive state interference in the economy is now an important
factor... The state reacts to crises far slower than an economic entity acting
on market signals."
However, he said new state companies would need to be established in the
future.
"We believe they are needed to act where market agents are not able to act
independently... We will create them in such a way that they will work entirely
openly, under the rules of corporate governance."
The St. Petersburg International Economic Forum, running from June 6-8 this
year, is an annual event held with the support of by the Russian president,
bringing together politicians and business leaders. Russian news agency RIA
Novosti is the general information sponsor of the forum.
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