<DIV>2003 RUSSIAN GDP REACHED 79% OF PRE-REFORM LEVEL<BR><BR>MOSCOW, 12 April (RIA Novosti)-A report, "The Macroeconomic Situation in<BR>Russia for the 1999-2003 period and early 2004", published on the Russian<BR>Government's Web site on Monday, shows that the country's GDP exceeded the<BR>1993 level and real incomes of the population the 1994 level.<BR><BR>The report's authors took the base levels of comparison for 100% as the<BR>pre-reform 1990 GDP level. In comparison, 2003 GDP reached 79.4%, whereas<BR>in 1993 the figure was 74.2%. The lowest level of GDP since the start of<BR>reforms came in 1998 and was 57.5% against 1990.<BR><BR>Real household incomes showed similar dynamics, though a year behind. In<BR>2003, they reached 60.8% of the 1990 level, whereas in 1994 the figure was<BR>60.1%. The minimum of 39.8% was established in 1999.<BR><BR>The report points to the positive GDP dynamics over the last three years.<BR>If between 1996 and 1999, GDP fell by an average of 0.4% per a
year, then<BR>from 2000 to 2003, it grew by an average of 6.8%.<BR><BR>Real household incomes between 1996 and 1999 fell by an average of 5.8%,<BR>whereas from 2000 to 2003, the trend was positive: annual growth was 11.3%.<BR><BR>Unemployment in the country, according to government statistics, has<BR>changed: in 1996-1999 the number of people seeking work grew by an annual<BR>average of 32.6%; since 2000, the annual average of those out of work has<BR>fallen by 29.4%.<BR><BR>The number of people living below the subsistence minimum was 32.3 million<BR>(22% of the overall population) in 1996, 41.9 million (28.9%) in 2000 and<BR>29 million (20.4%) at the start of this year.<BR><BR>Inflation has gradually fallen in the last three years. In December 2000,<BR>it stood at 20.2%, in December 2001 18.6%, while for December 2002 and<BR>2003, the figure was 15.1% and 12%, respectively.<BR><BR>In 1997, 1998 and 1999, inflation stood as 21.8%, 84.4% and 36.5%,<BR>respectively.<BR><BR>The
monetarization of the Russian economy, which means the use of cash,<BR>checks and small investments in GDP stood at 14.4% in 1997, 11.4% in 1999,<BR>and 15.1% in 2002 and 8.8% in 2003.<BR></DIV><p>
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