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June 24th, 2006
Govt Faces Deficit Draft
Russia’s cabinet sealed yesterday the guidelines of 2007 budget. The draft sets forth 170-billion ruble deficit, which Finance Minister Alexey Kudrin intends to set off by placing government’s bonds and by adding the remainder of 2006 budget.
Another party affected is Prime Minister Mikhail Fradkov, as the draft spells out no nanotechnology or VAT reduction proposals advocated by the PM.
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