OREANDA-NEWS. North-West Telecom Board of Directors approved the Company’s budget for 2007.

According to the budget, the Company’s receipts by the results of 2007 will be RUR 21921 million, which is 8.2% higher than the expected receipts by the results of 2006. Nevertheless, the expenditure will increase by 9% to make RUR 16700 million.

In 2007, North-West Telecom intends to invest RUR 5753 million, which makes 26.2% of its receipts. The plans of NWT have been strongly influenced by its investments as part of federal target programs (“Universal Communication Service”, “Internet To Schools” etc.) It is intended to allocate RUR 2844 million to NWT’s commitments under these programs.

As in 2006, the priority of NWT’s investment program is development of new services, where the investments will amount to RUR 1237 million.

The earnings from new services will grow by 40% to reach RUR 2479 million by the end of 2007, making 11.3% of the Company’s receipts. The network’s digitization rate will reach 58% by the end of 2007.