MACROECONOMICS.

The summit Russia-EU opens today in Helsinki. The President of Russia Vladimir Putin who on the eve arrived in the capital of Finland, will take part in it. (according to materials of RIA NOVOSTI)

The basic themes of forthcoming negotiations become questions of cooperation between EU and the Russian Federation in the field of energy, preservation of environment, education, culture, and law. Discussions will also touch the international problems, including a situation around Iran, in the Near East, a state of affairs in the West of the Balkans, in Korea.

Specific goal of the summit is achievement of the arrangement on development of the new agreement on partnership and cooperation between EU and the Russian Federation, in stead of the current contract which expires next year. However because of the veto of Poland on the EU mandate in negotiating process these negotiations cannot be begun yet. As the prime minister of Finland Matti Vankhanen says Finland as the EU country-chairman "has made significant efforts to get of the negotiating mandate before the summit of the Russian Federation-EU".

The State Duma will consider today in the fourth final reading the project of the federal budget of Russia for 2007. According to offered macroeconomic parameters by the government of the Russian Federation, incomes of the federal budget in 2007 ? are planned at a level 6 trillion. 965,3 billion rubles, charges - 5 trillion 463,5 billion rbl. Proficiency rbl. will make 1 trillion 501,8 billion rubles.

Gross domestic product of Russia in 2007 is predicted at a rate of 31,22 trillion rubles, growth of consumer prices/inflation/ - at a level of 6,5-8 percents, a mid-annual rouble exchange rate to dollar - 26,5 rubles/dollars, oil price - $61 a barrel. Budgetary expenses in 2007 will increase more than 1 trillion rbl.

Simultaneously the volume of the means directed to realization of priority national projects increases essentially. There will be increased: by 70% - up to 100 billion rubles - charges on public health services, by 66% - on education, by 30% - on the project of creation of accessible housing. In total on realization of national projects is provided 230,9 billion rubles, and in sphere of demographic policy - 32,3 billion rbl.

Besides it is supposed to carry out indexation of the salary in budgetary sphere, which as a result will be up 15%. Money supply of military men will be indexated twice: in the beginning of 2007 - by 15 percents, and in the autumn - by 11 percents. Pensions will increase more than 20 percents, and since September, 1^st, 2007 ? grants of students in high schools will raise by one and a half time.

Minister of Finance of the Russian Federation Alexey Kudrin called the budget-2007 "the budget of investments into the person, in the future generation". However the Duma majority recommends the government to find financial opportunities for increase in salaries of  employees of budgetary sphere by 20 percents since September, 1^st, 2007 instead of 15 percents as it was planned.

MARKET’S GENERAL ESTIMATION.

Activity of investors on Thursday remained at a level of the last day despite lacking players from the USA where the Thanksgiving Day was celebrated. The total amount of the tenders in RTS made 469,9 million dollars, in the classical stock market - 52,2 million dollars, in the exchange share market - 32,3 million dollars. Volume of MICEX - 3560 million dollars. Domestic players decided to speculate for the advance independently, having ignored falling of oil market. Nevertheless, the majority of oil papers on Thursday were in leaders of falling, there went means transfer to other sectors.

Positive dynamics of world share indexes and some increase in the monetary offer support the market. The President appeal to problems of energy supply at session in the Kremlin, in opinion of experts should urge on development of reforms in energy. As a result in leaders of growth on results of day there were shares of the energy companies with RAO "UES". Hike of papers of regional telecoms was connected with speculation on a theme of privatization of Svyazinvest and news that the international rating agencies have raised ratings of some the telecommunication companies, in particular Uralsvyazinform and CenterTelecom. On results of the last day the RTS index was up 0,58 % (+9,82 points) to 1712,95 points, MICEX index grew 0,94 % (+14,14 points) to 1516,67 points. Further movement of quotations of the Russian papers, apparently, will still depend on moods on the world stock markets.

GAZPROM.

In Russia gas exchange trade has begun. For the first day Gazprom and independent manufacturers managed to sell 119 million cubic meters of gas. The average price was one third as much the state tariffs. On results of the first day of the tenders Gazprom sold 90 million cubic meters of gas, independent manufacturers - 29 million cubic meters of gas. (Novatech - 11 million cubic meters of gas, Transneft - 15 million, Rosneft and Itera - 2 million). On results of a day the average gas price made 1328 rbl. for 1000 cubic meters ($49,82). It is 32 % above the state tariff (according to the average $45 for 1000 cubic meters).

However this news has not affected players’ activity concerning shares of the joint-stock company, in absence of players of leading American stock exchanges there also was a calm on the Russian stock exchanges. While we remain outside the market.

RTS

Gazprom