15:21 GMT +324 January 2019
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    Russian government approves 2006 draft budget

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    MOSCOW, August 18 (RIA Novosti) - The 2006 draft budget was approved at a cabinet meeting Thursday. The draft budget envisions revenues of $191.8 billion for 2006 and a total budget expenditure of $149 billion. Non-interest budget expenditure has been set at $164.4 billion and interest-bearing expenditure at $7.11 billion.

    The budget surplus in 2006 will be $27.3 billion.

    The draft budget is based on the Economic Development and Trade Ministry's inflation forecast of 7%-8.5%, an average Urals crude price of $40 per barrel during the year, and a Stabilization Fund cut-off price of $27. The exchange rate is forecasted at 28.6 rubles to the dollar.

    The Russian Stabilization Fund will, by Finance Ministry estimates, reach $74.8 billion by 2006. At the beginning of 2005, the fund held $46.2 billion.

    The 2006 draft budget assumes increases in the major spending sectors in both nominal and real terms.

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