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    UPDATE: 2006 inflation target set at 7-8.5%

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    MOSCOW, August 4 (RIA Novosti) - The inflation target for 2006 will be within 7-8.5%, the Russian government said Thursday after a session of the draft budget commission.

    The growth rate for GDP is expected to be 5.8% with the price for Urals oil at $40 per barrel.

    Economic Development and Trade Minister German Gref presented an adjusted medium-term economic forecast at the commission's session, including essential economic reforms and measures and resources for their implementation, particularly, state investments.

    Gref said this characterized the 2006 federal budget as "a budget of development."

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