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Additional budget revenues will exceed $15.5 billion in 2007
Additional budget revenues will exceed $15.5 billion in 2007 and will be largely spent on housing, nanotechnology, and road development, Russia's finance minister said Thursday. The statement came after President Vladimir Putin highlighted these topics in his state of the nation address earlier Thursday. Alexei Kudrin said 392 billion rubles ($15.3 billion) of the money would come from the auctioning of the bankrupt Yukos [RTS: YUKO] assets. From that sum, 250 billion rubles ($9.73 billion) will go on housing utilities reform, with 150 billion rubles ($5.84 billion) to be spent on repairs and 100 billion rubles ($3.9 billion) on resettlement, he said. Another 100 billion rubles will be transferred into the capital of the new government-run corporation to oversee nanotechnology, and 30 billion rubles ($1.17 billion) to repair roads. From the latter sum, 20 billion rubles ($780 million) will be spent to repair urban roads. The federal Moscow-Rostov-on-Don highway and bridges will get 10 billion rubles ($390 million) this year and up to 70 billion rubles ($2.7 billion) of additional or unspent revenues in 2008-2010.
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