2003 budget draft sets upper limit for state bond debt

Russia's 2003 federal budget draft provides for the upper limit of the state bond debt at 842.1m rubles (about $26.6m) as of January 1, 2004. This number has been approved by the Budget and Tax Committee of the Russian State Duma, while elaborating on a federal bill "On the Federal Budget for 2003." The Committee proposed to assign 1.5bn rubles (about $47.3m) to be spent on repaying government bonds in 2003.

The 2003 budget draft is supposed to have the third reading in the State Duma on November 22, 2002.

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