A session of the Russian Duma (file photo) (ITAR-TASS) July 6, 2007 -- Russia's lower house of parliament today passed a three-year government-backed budget that forecasts a slight drop in oil prices and that raises spending by nearly 25 percent by 2010.
The State Duma voted 313-120 to pass the plan, Russia's first multiyear economic program since the Soviet-era five-year plans. It includes big increases in defense and social service spending.
Overall spending will rise to 6.57 trillion rubles ($253.6 billion), up more than 20 percent from this year.
(AP)
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