Russia's Finance Minister Alexei Kudrin has said that he expects inflation to be higher and the rouble to be weaker than previously estimated over the next few years.

These predictions from the finance ministry, which investors often pay more attention to than those from the economy industry, are in line with conservative forecasts by the latter.

“I think that this year inflation will be a bit higher than seven per cent, may be 7.5 per cent and next year, it will be between six and seven percent,” Kudrin said.

“As a whole, all the remaining parameters (of the economy ministry's forecast) suit us,” Kudrin added.

The economy industry released a new forecast for 2011-2013 which shows more optimistic growth prospects, but also higher inflation next year of between six and seven per cent, against earlier estimates of 5.5-6.5 per cent.

The exchange rate for the rouble has also been revised to show the currency will stay weaker than 30 roubles per dollar in the next three years, compared to 30.66 currently.

"It will likely stay at the current level, in relation of dollar to the rouble at the level of 30 roubles (per dollar)," Kudrin said.