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The Russian government submitted the 2006 draft budget to the State Duma
The Russian government submitted the 2006 draft budget to the State Duma, the lower chamber of parliament, Friday, government press secretary Yevgeny Revenko said. Finance Minister Alexei Kudrin was appointed the official representative at parliamentary debates on the draft budget. The budget surplus is estimated at 776.2 billion rubles ($27.3 billion). Revenues will reach 5 trillion rubles ($177.3 billion), including 3 trillion rubles ($111.3 billion) in tax receipts and close to 2 trillion rubles ($66 billion) in other revenue. Spending will total 4.3 trillion rubles ($150 billion), including 202.5 billion rubles ($7.12 billion) in interest payments and 4 trillion rubles ($142.9 billion) in non-interest payments. GDP in absolute terms is expected at 24.4 trillion rubles ($856.7 billion). The budget parameters are based on a 2006 GDP growth rate of 5.8%, an inflation rate of 7%-8.5%, a Urals crude price of $40 per barrel, and an annual average exchange rate of 28.6 rubles per dollar. GDP will reach 24 trillion rubles ($856.7 million). Russia's foreign debt will total $79.5 billion by the end of 2006. The Duma is expected to consider the draft in an initial reading on September 21
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