MOSCOW, August 16 (RIA Novosti) - The real effective rate of the ruble will increase 4.8%, inflation will be 6.5-8% and the ruble's average exchange rate against the dollar will be 26.5 rubles in 2007, Russia's Finance Ministry said Wednesday.
In its main guidelines for the country's budget and tax policy for 2007, the ministry said the calculations had been based on a forecasted oil price of $61 per barrel.
The government plans to contain inflation at 9% in 2006 (compared with 10.9% in 2005), having raised the target from 8.5%, and to cut it further to 6-7% in 2007, and to 4-4.5% in 2008.
The State Statistics Service said in early August consumer prices had risen 0.7% in July and 6.9% in January-July 2006. The top statistics body said consumer price inflation stood at 0.5% in July 2005 and 8.5% in January-July 2005.
