In his 2003 annual State of the Nation address, President Vladimir Putin set the ambitious goal of doubling the country's GDP from its 2002 level by 2012, suggesting the gross domestic product should grow about 7% annually.
"Judging by this year's results, GDP will grow 6.7%-6.8% in Russia," Alexei Ulyukayev told the third international investment forum in Moscow.
Deputy Prime Minister Alexander Zhukov earlier gave the same forecast for GDP growth. At the same time, the Ministry of Economic Development and Trade expects gross domestic product to grow 6.6% in 2006.
Ulyukayev also said inflation will be 7.5% in January-October 2006, and will not exceed 9% in 2006. The Central Bank earlier adjusted its 2006 inflation forecast from 8.5% to 9%.
A forecast for the country's social and economic development until 2009, prepared by the Economic Development and Trade Ministry, projects inflation at 6.5%-8% in 2007, 4.5-6% in 2008 and 4-5.5% in 2009.
Ulyukayev said the growth of the ruble's real effective rate in 2006 will not exceed 9%.
"We will definitely reach the 9% barrier by the end of the year," Ulyukayev said.
