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Finance Minister Alexei Kudrin informed the President on the examination of the draft federal budget for 2007.

In this context, Mr Putin noted that every effort must be made to avoid ineffective spending that would fuel inflation.

Mr Kudrin also reported on the decision by international ratings agency Standard & Poors to raise Russia’s rating.

Foreign Minister Sergei Lavrov reported on Russia’s readiness to help rebuild destroyed infrastructure in Lebanon.

Deputy Prime Minister and Defence Minister Sergei Ivanov reported on preparations to send an engineering and sapper battalion to carry out work and provide assistance in Lebanon.