Duma Budget Committee satisfied with 2003 budget draft

The State Duma Budget Committee recommended deputies of the State Duma to adopt the budget draft for 2003 on the final fourth reading. Deputies are to approve distribution of the 2003 budget's expenses of all levels on the fourth reading.

As it was reported earlier, on September 25, the State Duma passed the budget draft on the first reading. The 2003 budget expenses amount to 2.346 trillion rubles ($73.66bn); revenues total 2.418 trillion rubles ($75.92bn). The forecasted GDP is 13.5 trillion rubles ($424bn); the expected inflation rate for 2003 is 10-12 percent; the dollar rate is 33.7 RUR/USD and the average world oil prices are expected to be $21.5 per barrel.

The fourth reading is to take place on December 11, 2002.