MENAFN : Russian economy expected to grow 6% in 2007

Mr.Vladimir Putin
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Russian economy expected to grow 6% in 2007

The Russian government's draft federal budget for 2007 forecasts 6 percent growth of the Russian economy next year, Xinhuanet reported. The Russian prime minister signed the budget and submitted it to the lower house of parliament, the State Duma for approval. While economic growth is expected to be 6 percent in 2007, federal revenues are expected to total $263 billion and expenditures are estimated at $207 billion. Russia's economy grew 6.4 percent last year.

The country has seen its state coffers swelling at a time of record energy prices as it is the world's second largest oil exporter and provides about a quarter of the gas consumed in the European Union.