social and economic situation in 2002 general trends the macroeconomic was characterised by year on slowing of consumer price growth expansion gdp fixed capital investment real money income these improvements were result implementation a monetary policy designed to reduce inflation rate ensure smooth dynamics exchange ruble russia continued enjoy strong balance payments an excess federal budget revenue over expenditure contributed stability resumption world favourable foreign trade conditions also improvement slowed down significantly compared with december 2001 prices rose 15 1 while they had gone up 18 6 2000 industrial output expanded 3 7 monthly production excluding seasonal calendar factors show that grew more slowly than 100 2 respectively index for key five branches industry agriculture construction transport retail registered 103 9
