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23 Jul, 2008 05:14

Russia in top four for GDP growth

Russia in top four for GDP growth

Russia will be in the top four of the world’s fastest growing economies this year, according to US broker Merrill Lynch.

The country’s GDP will grow by 8 percent in 2008. But that's only half the rate of the leader – Qatar – with GDP expanding by almost 15 percent.

Analysts say high oil prices accelerate the development of energy producing countries.

But they point out that, despite high energy prices, there are signs that Russian growth is slowing down.

In June Russia attracted less investment and according to the state statistics service, Rostat, industrial growth was minimal.