Record Budgetary Proficit Expected in 2006 году / News / News agency Inforos
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Record Budgetary Proficit Expected in 2006 году

The Government's 3-year financial plan

The Russian cabinet has approved the main parameters of the 3-year plan (2006-2008) for Russia's financial development.

The budgets for the following three years have been planned with proficit. Thus, in 2006 it will be 404.89 billion Rubles, in 2007 – 310.36 billion, and in 2008 - 342,22 billion. Inflation is forecast to be 7-8% in 2006, 6-7% in 2007, and 4-5,5% in 2008. The growth of the gross domestic product is expected to be at the level of 5,9% - 6,2% in the next three years.

As for the expected Ruble exchange rate, in 2006 it will be 27.3 Rubles to $1, in 2007 27,51 Rubles, and in 2008 27.65 Rubles. The exchange rate for the Dollar to the Euro is expected to stay unchanged at $1.33 to 1 Euro during 2006-2008.

The three future budgets have been based on the average annual price of petroleum of the "Urals" grade, which is forecast to be $34 a barrel in 2006, $33 in 2007, and $33.5 in 2008.

The revenue of the Russian federal budget will be 4 trillion 93.95 billion Rubles in 2006, 4 trillion 405.71 billion Rubles in 2007, and 5 trillion 22.02 billion Rubles in 2008. Expenditure has been planned at 3 trillion 689.06 billion Rubles in 2006, 4 trillion 95.35 billion in 2007, and 4 trillion 679.8 billion Rubles in 2008.

As of January 1, 2009, the amount of the Stabilization Fund should reach 2 trillion 85 billion Rubles.
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