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2008 budget should be adopted ahead of schedule - Putin

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MOSCOW, June 19 (RIA Novosti) - Russia's president said Monday that the 2008 budget should be adopted before October 2007, rather than in December, due to parliamentary elections in December 2007.

"The budget needs to be adopted before deputies leave for their constituencies," Vladimir Putin told a Cabinet session, adding that otherwise budget debates would turn into an election campaign.

He said the 2008 budget could start to be drafted immediately after the 2007 budget had been adopted and told Prime Minister Mikhail Fradkov to take the appropriate steps.

"We can do that," Fradkov responded, adding that he would tell ministries to file their requests and proposals for 2008 earlier than usual.

But Finance Minister Alexei Kudrin said adopting the budget before October would be difficult.

This year the budget will pass four readings as always, Kudrin said, and the final version will be submitted to the president for signing in December. In 2008, the debating period in the lower chamber would be cut thanks to a series of new arrangements.

"Next year, the budget would be examined in three readings and could be adopted as early as October," Kudrin said, arguing that speeding up the process further was difficult as regions' requirements had to be studied and considered in the budget.

Putin, however, said accelerating the process was very important.

"I understand that the budget, the country's main financial document, should be thoroughly prepared. But that is exactly the reason why it should be completed well ahead of the elections," the president said.

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