MOSCOW, January 31 (RIA Novosti) - Vladimir Putin said Tuesday that annual inflation in Russia could be reduced to 8% or lower and that the ruble should become a convertible currency.
The president told a news conference in the Kremlin that Russia could achieve the fundamental objective of reducing inflation to 8% or even lower to 3%-4%.
Inflation in the country in 2005 reached 10.9% and the government has already announced that it plans to keep it at 8%-9% in 2006.
Meanwhile, the ruble should become fully convertible, Putin said, adding that Russia was planning to lift all restrictions on currency operations, including the formation of reserve funds during currency operations, in 2007.
