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Chernomyrdin - Russia's Economy Strictly Bound to Political Factor

Moscow, July 1 (RFE/RL) -- Russia's Prime Minister Viktor Chernomyrdin today opened a meeting in Moscow of the Council on Foreign Economic Investment and said economic development in Russia is strictly bound to what he called "the political factor."

Chernomyrdin told Russian and foreign businessmen that the first round of the presidential election last month has shown that the majority of Russians favor the continuation of economic reform.

However, he said many Russians "do not understand that the more difficult period is over."

Chernomyrdin also said Russia's economy will develop along the lines of financial stabilization and expressed the hope it will reach "a new step" within two or three years.