Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Real Man who started this subject	5/31/2004 9:12:00 PM
From: Copperfield	of 1301

Russia enjoys $9 billion quarterly surplus -------------------------------------------------------------------------------- Big News Network.com Tuesday 1st June, 2004 Russia enjoyed a $9 billion budget surplus for the first four months of 2004, the Finance Ministry announced Monday. Consolidated budget revenues for January through April were 1.1557 trillion rubles, or $53 billion, while budget expenditures totaled 1.29 trillion rubles, or $44 billion, over the comparable period in 2003, according to a RosBusinessConsulting report. The Russian economy has benefited from continued rising global energy prices, especially for oil and natural gas. Russia is the biggest producer and exporter of oil and natural gas combined in the world. Also, the re-election of President Vladimir Putin to a second successive four year term in March has reassured domestic investors that prospects for continued stability are good. Consequently capital flight has been running at only 1 percent or 2 percent of the ruinous levels of a few years ago.

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