MOSCOW — The Russian government plans to complete the finalization of the 2006 draft federal budget on Thursday, a source in the government told RBC.

Under Russian law, August 26 is the last day for submitting to parliament a draft budget for the following year. In 2003, the document was sent to the state duma at 22:23 Moscow time, last year – at 22:39.

All 29 budget documents had been submitted to the government, the source said. The draft budget for 2006 was approved by the government on August 18, and the document has not been changed considerably since. The ministry of justice had some minor complaints about a number of the 2006 budget bills, but the source said he hoped the problems would be settled. He expressed confidence that the draft would be properly presented to the state duma.

Budget revenues are projected to be RUR 5.46 trillion (about $192 billion). Spending is set at RUR 4.27 trillion (about $150 billion). Surplus is expected to be RUR 776.228 billion ($27.2 billion).

The draft budget is based on the economy ministry’s estimates for inflation at 7 to 8.5 percent, the average price of Urals oil at $40 per barrel and the threshold price of oil – used in forming the stabilization fund – at $27 a barrel. The ruble/dollar exchange rate is projected to be 28.6 RUR/USD, and the ruble is expected to strengthen by no more than 4%.