MOSCOW, September 23 (RIA Novosti) - The Russian government approved on Wednesday the draft budget for 2010 with a budget deficit of 6.8% of GDP, Finance Minister Alexei Kudrin said.
"The government has agreed and approved a draft budget for 2010 and basic parameters for 2011-2012," Kudrin said.
Under the draft, the budget deficit will amount to 4% of GDP in 2011 and 3% in 2012.
Federal budget revenue in 2010 will amount to 6.95 trillion rubles ($231 billion), while spending will total 9.886 trillion rubles ($329.5 billion), Kudrin said.
Kudrin also said that the dollar/ruble rate was projected at 33.5-33.9 rubles to the dollar at an oil price of $58 per barrel in 2010.
The Russian government also approved on Wednesday draft of guidelines for Russia's monetary policy in 2010-2012, intended to cut inflation to 9-10% in 2010, 7-8% in 2011 and 5-7% in 2012.
Kudrin also said that Russia will spend 1.832 trillion rubles ($60.6 bln) and 413.5 billion rubles ($13.7 bln) from its Reserve and National Prosperity funds in 2010.
