The Russian economy needs at least two to three years to recover to the level registered in the country before the global financial and economic crisis hit Russia in 2008, Prime Minister Vladimir Putin said on Monday.
"Today we are witnessing positive dynamics in major economic indices. In the estimates of the Economic Development Ministry, gross domestic product in Russia will expand 3.5-4% in 2010. There are even more optimistic forecasts but we'll proceed from conservative scenarios," Putin said.
Putin said industry also demonstrated positive dynamics, expanding 10.4% in April.
"The prices of major Russian export commodities are rising again. The prices of oil and petroleum products remain at fairly good levels and the same refers to gas in terms of sales and prices. Metallurgy is getting on its feet and metal prices are rising," Putin said.
The premier, however, warned against excessive optimism over the current market situation, saying demand and consumer activity were still insufficient.
"To stimulate them, the government is carrying out a set of measures, a whole program of anti-crisis measures," Putin said.
In 2009, the government channeled 106 billion rubles ($3.4 billion) in support of the Russian Railways (RZD) and 102.5 billion rubles ($3.3 billion) in aid to the auto industry, he said.
This year, the volume of state support for RZD has been unchanged while a new program, "Cash for Clunkers," was launched by the Russian government in March as part of efforts to boost car sales, which fell by 49% in 2009, the premier said.
MOSCOW, May 31 (RIA Novosti)
