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Duma passes 2010 budget
RBC, 20.11.2009, Moscow 15:43:31.The Russian State Duma has approved in the third and final reading the draft law on the federal budget for 2010 and the planning period of 2011-2012. The document was approved by the United Russia faction, while the opposition - the Liberal Democratic, Communist and Fair Russia political parties - voted against it. The main budget characteristics were calculated on the basis of the GDP forecast of RUB 43.187 trillion (approx. USD 1.5 trillion) and an inflation level at or below 10 percent. For the years 2011 and 2012, GDP was projected at RUB 48.072 trillion (approx. USD 1.67 trillion) and RUB 53.712 trillion (approx. USD 1.87 trillion), respectively. According to the bill, the federal budget revenue will amount to RUB 6.95 trillion (approx. USD 242bn) in 2010, RUB 7.456 trillion (approx. USD 259.3bn) in 2011 and RUB 8.07 trillion (approx. USD 280.7bn) in 2012. Budget expenditures are estimated to reach RUB 9.887 trillion (approx. USD 343.9bn) in 2010, RUB 9.39 trillion (approx. USD 326.6bn) in 2011 and RUB 9.681 trillion (approx. USD 336.7bn) in 2012. The budget deficit is estimated at RUB 2.937 trillion (approx. USD 102.1bn) in 2010, RUB 1.934 trillion (approx. USD 67.26bn) in 2011, and RUB 1.611 (approx. USD 56bn) in 2012. The budget figures are based on the oil price forecast of USD 58 in 2010, USD 59 in 2011 and USD 60 in 2012.
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