MOSCOW, July 11: Russia recorded a record budget surplus of 726 billion rubles ($25.2 billion, 20.8 billion euros) in the first half of 2005, with government coffers boosted by record oil prices and tax settlements from Russian companies, preliminary figures from the ministry of finance showed on Monday.

The figure is greater than the surplus for the whole of 2004 of $24.5 billion.

Government receipts totalled 2,393.1 billion rubles, 46 per cent higher than expected.

Yukos, formerly Russia’s largest oil company, contributed 151.5 billion rubles to the budget after settling a backdated tax claim from the Russian authorities.

Spending totalled 1,657.1 billion rubles which was in line with revised government forecasts.

Moscow reached agreement with the Club of Paris last May to pay back a third of its 40-billion-dollar debt in order to reduce its future interest payments.—AFP