The Russian Economic Development and Trade Ministry forecasts the 2004 GDP growth to be 6.6%.
In the second issue of the EEC-prepared 2004 European Economic Review, Russia's GDP growth in 2003 stood at 7.3%.
EEC experts say that Russia is threatened with the Dutch disease, when an inflow of currency earnings from the sale of oil leads to a too fast real strengthening of the ruble.
The strengthening of the ruble has reached a stage when it may seriously harm the competitiveness of local producers and be a burden for the economy in general, says the report, published on Tuesday.
In EEC forecast, the GDP growth of all the countries of the Commonwealth of Independent States will be 7.1% this year in comparison with 7.7% in 2003.
The recovery of the world economy as a whole led by the United States, Japan and the United Kingdom will be speeding up in the second half of 2004 and 2005. For certain countries in West Europe - France, Germany and Italy - the forecast is not as favorable.
