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Federal budget spending in 2008 to grow $5 bln-finance minister

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MOSCOW, May 28 (RIA Novosti) - Federal spending in 2008 will increase by 120.4 billion rubles ($5 bln) as a result of additional income, Russia's finance minister said on Wednesday.

Alexei Kudrin, who is also a deputy prime minister, said additional budget revenues in 2008 were expected to total 908.8 billion rubles ($38 bln), including 788.3 billion rubles ($32 bln) from oil sales.

He said federal budget revenue in 2009 was set at 9.518 trillion rubles and expenditure at 8.746 trillion rubles, with a surplus of 771.6 billion rubles.

In 2010, budget revenues are projected to hit 10.402 trillion rubles and expenditures at 9.667 trillion rubles with a surplus of 735.1 billion rubles.

Net capital inflow into Russia hit $19 billion in April and is expected to reach $18 billion in May, the ministry earlier said.

Russia's GDP grew 8.4% year-on-year in April and 8.3% in the first four months of 2008.

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