Publication: Monitor Volume: 1 Issue: 149

After rejecting the government’s original budget in October, the Duma on December 6 adopted the 1996 federal budget in its second and third readings simultaneously. (9) This represents a major victory for the government, allowing it to maintain its present policies of (relative) financial stringency in an only slightly watered-down form. However, the budget still has to be approved by the Federation Council. The government is hoping the incumbent Federation Council will approve the budget before it disbands (see preceding story).

Chubais Jubilant.