Subscribe to our free daily newsletters
. Military Space News .

Subscribe to our free daily newsletters

Russian Economy Can Rival US Germany In Decade

Russian 10 ruble banknote.
by Staff Writers
Moscow (RIA Novosti) Sep 25, 2006
Russia can create an economy as strong as that of the United States or Germany in 10 years, the finance minister said Sunday. "We would like to create a system that will match the economic and financial strengths of the United States and Germany," Alexei Kudrin said in an interview with Russia's TV Channel One. "I must say, it could be done in about 10 years if we follow a very rational financial policy," the minister said.

The lower chamber of the Russian parliament approved Friday in a first reading a 2007 federal budget that envisions a 25% increase in government spending, year-on-year, to 5.46 trillion rubles ($205 billion), and a surplus of 1.5 trillion rubles ($55 billion).

Kudrin said that between 2000 and 2006, Russia passed through eight stages in the system of ratings assigned by the global ratings agencies, from the lowest rating, indicating financial crisis, to an investment-grade rating, which the country was assigned last year.

"Seven steps remain to be taken to reach the highest rating that developed nations, such as the U.S., France and Germany, enjoy," Kudrin said. "It is an ambitious task to reach this rating, but Russia is capable of accomplishing it."

Source: RIA Novosti

Related Links
The Economy
Learn about the Superpowers of the 21st Century at

Mideast Woes Alarm Growing Number Of US Foreign Policy Analysts
Washington (UPI) Sep 21, 2006
Several prominent policy analysts warned this week that America's foreign policy had to be urgently re-evaluated to prevent wider disaster. The Bush administration should even consider evacuating its military forces from the Middle East, according to experts speaking a meeting of he Green Institute think tank Wednesday.

  • Russian Economy Can Rival US Germany In Decade
  • Mideast Woes Alarm Growing Number Of US Foreign Policy Analysts
  • Should Russia Claim Great Power Status
  • China Urges Abe To Properly Handle History

  • North Korea Losing Ground Militarily Says US Pacific Commander
  • Iran Warns Of Lightning Response To Any Attack
  • Blair Accused Of Stifling Nuclear Debate On ICBM Replacements
  • French Demonstrators Criticise French Nuclear Missile Tests

  • BAE Systems Inertial Measurement Unit Selected For New Air-to-air Missile
  • South Korea Develops Cruise Missile
  • Norway Fires Its First Raytheon-Built Evolved SeaSparrow Missile
  • Australia Signs Contract For JASSM Follow On Standoff Weapon

  • A Dream Month For Ballistic Missile Defense
  • US Navy Certifies Latest Version Of Aegis Missile Defense System
  • Raytheon-SAIC Team Selected For NATO Theater BMD Work
  • TEAMSAIC Selected For NATO Active Layered Theater BMD Support Contract

  • European Aerospace Industry Set To Enter Russia
  • L-3 AVISYS Extends Its Civil Aircraft Self-Protection Systems Offerings
  • Fiber Optics Poised to Reach New Heights On Airplanes
  • Boeing, Chinese Carriers Finalize Orders for Next-Generation 737s

  • Andaman Seeks Drones For Surveillance Of Tropical Archipelago
  • UAV Catches Anti-Iraqi Forces Mortar Team
  • Scientists Test Unmanned Aerial Systems Refueling
  • Reaper Moniker Given To MQ-9 Unmanned Aerial Vehicle

  • Thomas Hobbes Was Right Anarchy Does Not Work
  • Iraq Study A Long Way From Over
  • US Holds Iraqi Journalist For Five Months
  • US Commander Sees No Need To Ask For More Troops In Iraq

  • Mighty F-35 Lightning 2 Engine Roars To Life
  • Imaging Devices Drive Booming EO Systems Market
  • Northrop Grumman Gets Order For More Electronic Attack Systems
  • Raytheon-BAE Systems Bofors' Excalibur Closer to Fielding

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement