Friday, August 18, 2006

Economy: Russia approves draft budget

Russian Prime Minister Mikhail Fradkov, has announced the government has approved a draft budget for the next year. "The draft will be finalized before August 22, and will be submitted to the State Duma at a set date," he said.

It is expected that the government will submit the draft budget to the lower house on August 26. "I expect budget discussions will be calm...I believe the budget procedure begins fitting within a general constructive practice in the country," the prime minister added.