Kremlin roasted over inflation-busting measure
Published: 06 December, 2007, 12:14
The Organisation for Economic Cooperation and Development has told the Russian government to abandon its attempts to control inflation by fixing retail prices.
In its twice-yearly report, the OECD said that with the exception of a big change in the oil price, the possibility of greater state intervention in key sectors of the economy was the main source of uncertainty.
The organisation blames a loose fiscal policy for pushing up inflation this year
The OECD forecast growth of 6.5 %next year, down from 7.3 %this year, and a fall in inflation to 9.5%.
06.12.2007, 09:04
Russia pushes to limit greenhouse gasesThe Kyoto protocol is aimed at fighting climate change. The countries who've signed up to it are obliged to reduce their greenhouse gas emissions. Russia currently meets its targets under Kyoto and is now ready to start trading emission quotas. |
06.12.2007, 12:27
Russia's third biggest food retailer soldMercury holding has acquired a 51 % stake in Dixy, Russia's third biggest supermarket chain. |
