The Economic Development and Trade Ministry said its forecast of the country's social and economic development in 2006-2009 put GDP growth at 6.1% in 2006, 5.7% in 2007, 5.6% in 2008 and 5.7% in 2009.
The forecast, which is based on world oil price projections and has been submitted to the government for consideration, said manufacturing would make an increased contribution to GDP growth.
Although Russia is reaping benefits from high world oil prices, the Russian government is taking proactive efforts to make the country less dependent on raw material exports and develop manufacturing industries that turn out products with high added value.
In the ministry's estimates, manufacturing industries will use their internal growth factors to add more to GDP expansion, whereas the contribution of mining sectors will slightly decline. By 2009, manufacturing industries will account for 82% of GDP growth but the share of mining sectors will equal only 12%.
Industrial output under the forecast is expected to expand 3.9% in 2006, 3.8% in 2007, 3.7% in 2008 and 4% in 2009.
Output in the mining sector will grow 2.4% in 2006, 2.7% in 2007, 1.5% in 2008 and 2.1% in 2009. Manufacturing is projected to increase production 4.6% in 2006, 4.4% in 2007, 4.6% in 2008 and 4.9% in 2009.
According the ministry's calculations, the price of Russia's Urals crude oil will average $62 per barrel in 2006, $58 per barrel in 2007, $53 per barrel in 2008 and $48 per barrel in 2009.
