Bank of Russia reveals 2011 annual report
Russia's GDP grew in 2011 while inflation was restricted, according to an annual report published by the Bank of Russia on October 26.
The country's GDP grew at a rate of 4.3%, an increase from 4% in 2010, while inflation fell to 6.1% – at the lower-end of the central bank's target range – from 8.8% in the previous year. This fall was attributed mainly to decreasing food prices. To tackle the high inflation, the central bank also pursued a restrictive monetary policy, the report said.
To
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