This information is contained in the report of the Economic Development and Trade Ministry prepared for the cabinet sitting due on Thursday, a source in the Russian government has said.
According to him, the growth is due to the accelerated export growth and favourable foreign economic situation.
The source said that the ministry is going to adjust the 2004 GDP growth indicator. "The ministry cautiously provided for 6.6 percent on results of the year and proceeded from the price of oil at 26.5 dollars per barrel", the source noted. "The average price for January-June was 30.8 dollars per barrel and experts predict 33 dollars in the next few months".
On Tuesday Andrei Klepach, director of the ministerial board for macroeconomic prognostication, told journalists that his ministry has increased the GDP growth forecast by 0.1 percent from 6.6 to 6.7 percent. The forecast indicator of growth of industrial production this year has also been increased from 6.3 to 7 percent.
The inflation forecast in Russia on the year results is invariable - ten percent, the ministerial source said.
