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Govt. ready to work with Duma on 2007 draft budget-PM Fradkov

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MOSCOW, August 26 (RIA Novosti) - The Russian prime minister said Saturday the government was ready to cooperate with the lower house of parliament in harmonizing the 2007 draft budget.

Mikhail Fradkov signed a draft law on the 2007 federal budget and the government submitted it to the State Duma earlier today.

"We reiterate our readiness to work at the State Duma on the basic parameters of the draft budget," Mikhail Fradkov said at a meeting with House Speaker Boris Gryzlov, adding that the draft budget was socially oriented.

Fradkov said the budget was drawn up with a surplus of 1.5 trillion rubles ($55.5 bln), which is 4.8% of GDP.

Budget revenues in 2007 are projected at 6.9 trillion rubles ($260 bln, or 22.3% of GDP) and expenditures are set at 5.4 trillion rubles ($203 bln, or 17.5% of GDP).

Allocations to the Stabilization Fund will amount to 1.7 trillion rubles ($63 bln).

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