[lbo-talk] Forecast: Russia's GDP to grow 15%-18% in 2003-2005

Chris Doss itschris13 at hotmail.com
Tue Aug 26 07:47:18 PDT 2003


EVER LESS RUSSIANS LIVE BELOW POVERTY LEVEL

MOSCOW, AUGUST 26, 2003 /RIA Novosti/ - Fewer and fewer people in Russia live below the poverty level. Vice-Premier Galina Karelova cited the following figures at a Moscow conference on social matters: the number of people living below the poverty level decreased by the second quarter of 2003 from 42 million (28.9 percent of the total population) last year to 33 million, that is by 23.3 percent.

"This is the rate we should maintain and boost," said the vice-premier.

She reported that wages in the country average 5,600 roubles (about $185), having grown 26 percent in comparison with the first six months of the last year. The government has detected signs of increasing labour efficiency as well. "These trends indicate an improving economic situation in the country," said the vice-premier.

The government sees its priority in diminishing differentiation of incomes, she said. This task is to be resolved through levelling the regions' economic possibilities, supporting socially insecure groups of the population, providing them targeted social aid. Galina Karelova called upon Russian business people to help in implementing this task. According to Karelova, the government plans to encourage social responsibility of the business community.

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