"These indices are very optimistic," German Gref said at a meeting between President Vladimir Putin and government members.
The economics ministry said earlier that Russia's GDP had increased by an estimated 6.8% year-on-year in 2006. The ministry projects GDP growth at 6.2% and inflation at 6.5-8% in 2007
Retail trade grew 13.9%, fixed capital investment was up 21.2% and real wages climbed 17.5% in January-February 2007, the economics minister said.
Gref also said Russia's inflation totaled 0.3% on March 1-12 and 3.1% from the start of the year to March 12, adding that this figure was 33% lower than in the same period of last year.