IMF experts to arrive in Moscow to hold consultations on questions of federal budget for 2003

This week experts of the International Monetary Fund will begin Moscow consultations with Russian economic departments on drafting the federal budget for the year 2003.

RIA Novosti was told about this by a source in the IMF who noted that the mission is to come to Moscow on Thursday and will work for about a fortnight.

As Finance Ministry officials said earlier, in accordance with the main parameters of the budget for next year, submitted to the government, the draft budget will fix the revenue part at 2,370,262 million roubles which makes up 18.45 per cent of the Gross Domestic Product (GDP).

The source in the Fund noted that the work on the programme of assessment of the Russian financial sector the first phase of which ended in April is a major direction in cooperation between Russia and the IMF at the current stage.

In the course of the mission work the experts of the Fund will hold consultations in the Ministry of Finance, the Central Bank of Russia and other economic agencies.