Consumer prices in Russia grew 15.1% in 2002 according to a bulletin from the country’s State Statistics Committee. This compares to an inflation rate of 18.6% in 2001, 20.2% in 2000, 36.5% in 1999, 84.4% in 1998 and 11% in 1997.

Russia's foreign debt payments in January 2003 will amount to $1.087 billion said a source from Finance Ministry. The total includes $672.41 million in principal payments and $414.247 million in interest.  Russian trade grew 6.3% year- on-year in the first 11 months of 2002 to $150.3 billion, resulting in a surplus of $42.7 billion. During the same period, exports grew 3.3% to $96.5 billion while imports increased by 12.1% to $53.8 billion.

In announcing the figures, the Minister for Economic Development and Trade, German Gref, said he expected the rules of doing business in Russia to fall in line with those of Europe within ten years.  "Living standards will most probably not reach European levels, but comparison will not be out of place," commented Gref.

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