Russia's economy ministry plans to raise its average oil price forecast for 2013 to $105 per barrel from a previously expected $97, the first deputy finance minister said Wednesday, Interfax news agency reports.

Tatiana Nesterenko told reporters that the economy ministry has to pass an updated forecast of the main economic indicators for the period from 2013 to 2016 to the finance ministry by April 4.

"This might be an attempt to formally increase gross domestic product growth forecast for this year," said Dmitry Polevoy, an analyst at ING in Moscow .

Mr. Polevoy also said much will depend on the ruble exchange rate forecast that the economy ministry could also revise.

Russia 's economic growth is slowing and the economy ministry had earlier said growth could come in at around 3% this year, down from 3.4% in 2012 and far below an ambitious target of annual 5% voiced by President Vladimir Putin late last year.

The last economy ministry forecast envisaged an average ruble rate of RUB32.4 per dollar in 2013, a weaker level than what has been seen so far this year.

Mrs. Nesterenko also said Wednesday that the finance ministry was not planning to revise the main budget parameters for 2013.
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