Government to consider three-year financial plan

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MOSCOW, June 7 (RIA Novosti) - The Russian Finance Ministry on Tuesday will submit to the government a three-year financial plan, Russian Finance Minister Alexei Kudrin said yesterday.

"Today (Monday), the government is making amendments to the Budget-2005. We shall adopt these amendments in June. Simultaneously, the Budget-2006 and the three-year plan are being prepared. In view of this, we shall present the main parameters of the three-year plan tomorrow (Wednesday)," Kudrin said at the conference of the Russian President with the members of the government.

Speaking about the three-year plan, the Finance Minister said that it was based on "the somewhat changed, corrected forecast."

The Russian government approved the main parameters of the financial plan for 2006-2008 on April 21.

Under the document, approved by the government, the budgets for all the three years have been planned with a surplus: 404.89 billion rubles ($1 = 28.44 rubles) in 2006; 310.36 billion rubles in 2007; and 342.22 billion rubles in 2008.

According to the expected variant of development, inflation will be 7% - 8% in 2006, 6% - 7% in 2007 and 4% - 5.5% in 2008.

The expected GDP growth in the next three years is expected at the level from 5.9% to 6.2%.

It is expected that the ruble exchange rate to the dollar will amount to 27.2 rubles for dollar in 2006, to 27.5 rubles for dollar in 2007 and to 27.65 rubles for dollar in 2008.

The average annual forecast price of the Urals oil brand has been fixed in the budget at the level of $34 for barrel in 2006, $33 in 2007 and $33.5 in 2008.

The revenues of the federal budget in 2006 will total 4,093.95 billion rubles, in 2007 - 4,405.71 billion rubles and in 2008 - 5,022.02 billion rubles.

The expenditures, planned for 2006, amount to 3,689.06 billion rubles, for 2007 - 4,095.35 billion rubles and for 2008 - 4,679.8 billion rubles.

The stabilization fund is expected to increase up to 2,085 billion rubles as of January 1, 2009.

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