The International Monetary Fund (IMF) believes Russia's economy is likely to grow by about 5.9 per cent in 2003 after expanding 4.3 per cent last year.
"We do not have any significant disagreement with officialprojections [for economic growth] which is now 5.9 per cent for this year and 5.2 per cent for 2004," Mr Goohoon Kwon told reporters.
"We are revising our forecast upwards on the basis of astronger outturn for the first half of this year and because of much higher than projected oil prices," he added.
Mr Kwon said he expected the IMF to release precise growth estimates within aweek.
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Previously the IMF had forecast 4 per cent growth for 2003.The economy grew 7.2 per cent in the first six months of theyear.