BELARUS NEWS AND ANALYSIS

DATE:

17/10/2008

Russia, Belarus approve Union State budget in first reading

The FINANCIAL -- According to RIA Novosti, the Parliamentary Assembly of the Russia-Belarus Union State approved the 2009 budget in its first reading in MOSCOW on October 16.

The 2009 draft budget was set during the Union State's 34th parliamentary session at 4.872 billion Russian rubles ($185 million), a 20% increase in contributions from Russia and Belarus from the 2008 budget of 4.061 billion rubles ($154 million).

Pavel Borodin, state secretary of the Union State, said Russia will contribute 3.167 billion rubles ($120 million), and Belarus will provide 1.705 billion rubles ($65 million).

The ex-Soviet neighbors have been in talks since 1997 to establish a Union State with a common economic, customs and political space, but negotiations have been complicated by a host of issues, including energy and financial disputes.

Borodin said the budget is expected to be approved at a session of the Russia-Belarus Union State Higher State Council scheduled for November 3.

Source:

http://finchannel.com/index.php?option=com_content&task=view&id=22016&Itemid=13

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