Generalov claims decline in fuel and energy sector halted

Apr 30, 1999 02:00 AM

Gas extraction decline rates have been checked and coal output has been on the rise in Russia, Russian Fuel and Energy Minister Sergei Generalov said in a interview. According to Generalov, the situation was improved by the devaluation of the ruble and rising world oil prices. Generalov said that the Russian fuel and power complex has regained the 1997 level, which was characterised by a steady growth. The effect of new taxes on the sector was far from clear, however, and will be seen in summer.

Source: KOMMERSANT-DAILY via NewsBase
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