Market set to grow by 20%

19 Dec 2007

Russia’s telecoms and IT sector is expected to grow by 20% next year thanks to the rapid development of mobile and internet services. Communications Minister Leonid Reiman forecasts that telecom and IT firms will generate sales of RUB1.8 trillion (USD72.9 billion) in 2008, up from an estimated RUB1.5 trillion this year. The market grew 25.4% in 2007, Reiman said, according to a Reuters report. Capital investments were up 20.8% in 2007 to RUB206 billion, he added. The number of internet users in Russia is expected to reach 46 million in 2008, from around 35 million now, while the number of personal computers is set to rise from 31.2 million to 40 million.