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. Last Updated: 07/27/2016

Draft Budget Due

MOSCOW () -- The Russian government was due to submit the draft 1997 federal budget to the State Duma on Friday evening, promising low inflation and continued tight spending policies.

Finance Ministry budget official Olga Dolgova said the document was little changed by an intra-governmental conciliatory commission since it was presented to ministers last week.

It forecasts annual inflation of 9.5 percent and a budget deficit of 3.3 percent of gross domestic product.

The full parliament is not due to reconvene until the end of September.