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Govt. makes upward revision of ruble appreciation forecast

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MOSCOW, May 29 (RIA Novosti) - The Russian government has revised upward its forecast for ruble appreciation for the next three years, an economics ministry official said Monday.

"We have opted for further ruble appreciation to restrain inflation after natural monopolies raised their tariffs," Andrei Klepach said following a session of the ministry's macroeconomic planning department.

Under the adjusted scenario, the nominal dollar rate in Russia will be 26.9 rubles per dollar in 2006, 26.3 rubles in 2008, and 27.3 rubles in 2009.

According to the ministry, the ruble rate will increase 6-7% in 2006 against an original forecast of 6.5%. Next year the figure is expected to be 5.1% against the earlier forecasted 2.8%, and 0.9% in 2009 instead of 0.4%.

The ministry said it had based its revised forecast on the recent dollar depreciation.

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