MACROECONOMICS.

Incomes of the federal budget of Russia this year will exceed by 1124,4 billion rubles the planned volume, is said in materials of the Ministry of Finance to the government meeting on Thursday where amendments to the law about the budget of 2006 will be considered.

In comparison with the planned parameters revenue from taxes will increase 404,2 billion rubles, except for assessments to Stabilization fund - by 18 billion rubles. Non-tax revenue will increase 696,1 billion rubles in comparison with planned indicators, except for assessments to Stabilization fund - by 265,8 billion rubles.

Thus, the total amount of incomes of the federal budget in 2006, according to the Ministry of Finance, will make 6170 billion 484,6 million rubles (22,7 % of gross domestic product), expenses - 4 431 billion 76,8 million rubles.

Proficiency of the budget is expected at a level of 1739 billion 407,8 million rubles.

Taking in Stabilization Fund of Russia in 2006 will make of 1 673,9 billion rubles, that is 816,5 billion rubles (95,2 %) more than the planned parameters, is said in materials of the Ministry of Finance to government meeting on Thursday where amendments to the law about the budget-2006 will be considered.

Additional taking in Stabilization Fund on the tax to mining operations this year will make 386,2 billion rubles, from export duties on oil - 430,3 billion rubles.

"The increase in volumes of assessments to Stabilization fund of the Russian Federation is connected with a rise in Urals oil prices", - is said in materials.

MARKET’S GENERAL ESTIMATION.

On Wednesday the Russian share market kept growing on all spectrum of "blue chips" due to a good situation on world share platforms and increases in monetary liquidity with the beginning of a new month. The market did not pay much attention to oil prices, which by the evening stood expecting confirmation of reduction in production by the countries-OPEC members and an issue of data on oil and mineral oil stocks in the USA. MICEX index was up 2,04 % and made 1456,00 points.

RTS index rose 1,94 % and was closed at a level 1644,86 points. Shares of the oil companies on the MICEX raised, though the further movement will depend on oil prices: Gazpromneft (+1,35 %), Tatneft (+0,91 %), Rosneft (+0,61 %), LUKOIL (+1,45 %). Due to expected increase of the home gas prices rise of papers of Gazprom (+3,12 %) and Surgutneftegaz (+1,79 %) was observed. MTS shares on MICEX increased 3,62 % after it became known that "Systema" is going to exchange its "daughter" JSC "Telecom", which owns MTScontrol stock, for 10-20 % of the leading telecommunication company of Europe Deutsche Telekom, having provoked that other companies of the sector to growth: Rostelecom (+1,19 %), MGTS (+4,48 %), Sibirtelecom (+1,73 %).

Stock quotations of EESR on MICEX continue to rise on a background of successful carrying out of IPO OGK-5 (+3,22 %). Other "blue chips" on MICEX also finished a day in a positive zone: Norilsk Nickel (+1,42 %), Sberbank (+1,61 %). The volume of the tenders on MICEX considerably increased and made $3155,00 million. In classical section of RTS it also raised almost twice and made $42,61 million.

GAZPROM.

Shares of the joint-stock company returned its positions, however now it is not necessary to enter the market - we remain outside the market.

RTS

GAZPROM