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Russian IT market booming

Russia's IT and telecoms market is booming and is set to grow by 20% next year. The expansion is being fuelled by the rapid development of wireless and internet services.

According to the Information Ministry, the market has grown by 25% compared to last year – boosted by Russian companies' capital investment.

It adds that the number of internet users in Russia has grown by 40% this year, while the number of personal computers has increased by 35% year-on-year.

In 2008, telecom and IT firms are expected to generate sales of more than $US 72 billion.