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Inflation will drop in 2008: Russian Finance Minister

Inflation in Russia will likely exceed 11% in 2007, the Economic Development and Trade Ministry admitted Tuesday.

Speaking at the 15th anniversary of the Moscow Higher Economic School, Aleksey Kudrin told RT that lessons would be learnt.

“Russia's rate of inflation is because of high oil prices, each capital inflow and high state expenditure. There are certainly lessons to be learnt from this year and we have a good opportunity to cut the inflation over the next year,” shared his hopes Mr Kudrin.