The Associated Press October 5, 2010, 6:05PM ET

Summary Box: Russia's growth forecast at 4 percent

THE FORECAST: Russian finance minister Alexei Kudrin sees steady economic growth of 4 percent for this year and each of the next two years. He vows to rein in inflation and eradicate the nation's budget deficit over that period.

WHAT IT MEANS: Such conditions will make investment-starved Russia an "island of stability" for foreign capital, says Kudrin.

FOREIGN INVESTMENT PROJECTIONS: Foreign direct investment in Russia is expected to total $40 billion this year, up from $36 billion last year. Kudrin forecasts it will grow by 25 percent next year.

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