CIS economy grew 4% last year

[ChrisD(RJ)]

07.02.2003 17:36:01 
CIS economy grows 4% in 2002
MOSCOW. Feb 7 (Interfax) - Gross domestic product in the Commonwealth of
Independent States grew 4% in 2002, the CIS Interstate Statistical Committee
said. 
CIS industrial output grew 4%, farm output 2%, capital investments 6%,
retail trade 10%, foreign trade (in the first 11 months) 5% and freight 4%,
the committee said. 
GDP growth was highest, as in the previous two years, in Azerbaijan,
Armenia, Kazakhstan and Tajikistan, at 9%-13%. Moldova's economic revival
continued, with GDP rising 7% in 2002, compared with 7% in 2001 and 2% in
2001. GDP was up 3%-5% in Belarus, Georgia, Russia, Uzbekistan and Ukraine.
This sort of growth has been sustained for four years in Belarus and six in
Uzbekistan. Economic growth slowed down a little in Russia and Ukraine. Only
in Kyrgyzstan did GDP fall, by 0.5%. 
Financially, the CIS member-states were relatively stable, with moderate
rates of inflation, comparatively steady exchange rates against the US
dollar, growth in gold and foreign-exchange reserves and budget surpluses
or, in some cases, only small deficits. 
Growth was also recorded last year in real disposable incomes, labor demand
was steady and unemployment relatively low. Household consumption was higher
than in 2001 in most states, but still below the 1991 level, particularly in
countries most affected by the financial crisis of 1998. 
There were no major improvements in the standard of living, so further
growth in domestic demand will be limited.