The Russian Government on Thursday introduced a federal draft budget for 2011 and the planning period 2012 - 2013 for consideration by the Russian State Duma.

The document stipulates a 3.6 percent budget deficit in 2011, a 3.1 percent deficit in 2012 and a 2.9 percent deficit in 2013.

The government hopes to eliminate its budget deficit earlier than was forecast, Prime Minister Vladimir Putin said earlier this month.

The federal budget expenses for 2011 are planned at 10,658 trillion rubles ($348.5 billion) and the budget incomes are planned at 8.88 trillion rubles ($290.5 billion).

The draft budget stipulates a 4 percent GDP growth in 2010 and a 4.2 percent growth in 2011.

Inflation is expected at 7-8 percent in 2010, after which it should lower down to 4.5-5.5 percent by 2013, the draft says.