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Russia: Stepashin Says Economy Recovering

Moscow, 23 June 1999 (RFE/RL) -- Russian Prime Minister Sergei Stepashin said today that Russia's economy has stabilized and is performing better than expected.

Stepashin said during a meeting with visiting Danish Foreign Minister Nilson Helveg Peterson that a majority of Russia's major investors and partners consider that the Russian economy has stabilized.

Stepashin also said the revival of the Russian economy has progressed faster than predicted.

He said industrial production has shown a 1.5 percent growth rate over the past year, monthly inflation had slowed to one percent and the ruble rate has held steady.

Later today Stepashin is due to meet UN Secretary-General Kofi Annan.