Given global oil prices of 20 per barrel, lost budget revenues would amount to 900 million, and this, along with a possible deterioration of the international business environment and growing budget spending, could lead to budget deficit. In this case, the Stabilization Fund could cover country's expenditures for about two or two and a half years.
More Quotes from German Gref:
By 2010, GDP will not be doubled but we will be able to achieve fairly high economic growth using additional mechanisms in the medium term to ensure that GDP will be doubled in the longer term.German Gref
This is the cornerstone of the government's policy and a major mid- and long-term challenge.
German Gref
These factors will pass, and the situation will be back to normal.
German Gref
We will work hard to do that this year.
German Gref
On average, we expect the ruble's appreciation to slow down by more than two times next year.
German Gref
The key goal ... in 2006 is to end bilateral negotiations on Russia's accession to the World Trade Organization with the United States and also to sign bilateral protocols with Australia, Switzerland and Columbia.
German Gref
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