MOSCOW, August 15 (RIA Novosti) - The Russian government intends to base its 2006 budget on a ruble-dollar rate of 28.6, and a Urals oil price of $40 per barrel, Economic Development and Trade Minister German Gref said Monday.
The 2005 budget had previously been based on the same price, but this was revised up to $48 per barrel, Gref said.
"We expect the exchange rate to be fairly stable at around 28.6 rubles to the dollar," Deputy Prime Minister Alexander Zhukov said.
"Based on this rate, it is interesting to compare the [forecasted] 2006 budget with the 2005 budget in dollar terms," Zhukov said. The 2005 budget in dollar terms is $110.9 billion against $176.4 billion in 2006, he said.
Budget revenues in 2006 will be around 159% of the 2005 figure, Zhukov said.
