The Russian government has raised its official gross domestic product growth forecast (GDP) for 2006 to 6.5 percent from 6.1 percent, a senior government source told Reuters on Monday. The source said the government had raised its 2007 forecast to 6.0 percent from 5.7 percent.
He said the government had also raised its forecast for the price of oil it plans to use in 2007 budget calculations to $61.0-$61.5 per barrel, from $58 previously.
The source said the new figures have been approved during a meeting chaired by Deputy Prime Minister Alexander Zhukov.
The Russian economy is reaping a windfall from bumper oil exports, while the manufacturing sector has recovered from an unusually harsh winter. The economy grew by 6.4 percent last year.