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. Last Updated: 07/27/2016

IMF Eyes Draft Budget

MOSCOW -- A team of International Monetary Fund experts on Friday began studying the government's 2000 budget draft, which analysts call impressively austere - so austere that the country is unlikely to make it work.

The government finalized the budget Thursday and will present it to the lower house of parliament next week. The State Duma must pass it in four readings, a process that traditionally takes months.

But Russia is under heavy pressure from the IMF, its biggest lender, to keep spending down and boost revenues, particularly its perennially poor tax collection.