Economic

Russia to Cut 2015 Budget by Around 10% Following Decline in Oil Price

“Russia’s government will cut its budget by around 10% this year, and maybe by as much as 15%, as a result of the sharp decline in oil prices, and it will also use reserves to cover some of the expected budget shortfall, Deputy Prime Minister Arkady Dvorkovich said Wednesday.”

Source: Russia to Cut 2015 Budget by Around 10% Following Decline in Oil Price – WSJ

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