UK prime minister signs formal Brexit letter to Brussels — official photoWorld March 29, 1:26
Some 20 Topol-M, Yars mobile ICBM systems take part in massive Central Russian drillsMilitary & Defense March 28, 23:10
Russia clinches last-minute 3-3 draw with Belgium in friendly football match in SochiSport March 28, 21:40
Washington-based National Symphony Orchestra members excited to perform in RussiaSociety & Culture March 28, 21:36
'Gentlefan' continues: 'Angels' greet Belgium football fans ahead of Sochi gameSport March 28, 21:12
Scottish parliament backs new referendum on independenceWorld March 28, 20:42
Russian strategic missile carriers to take part in military drills in TajikistanMilitary & Defense March 28, 20:10
Russia’s offshore energy projects in the ArcticBusiness & Economy March 28, 19:33
US chess chief: No plot to oust current FIDE head, but it ‘would be good for the game’Sport March 28, 18:27
MOSCOW, January 16. /TASS/. Real incomes of the Russian population might drop by 10% if the crude oil price keeps at $40 a barrel in the next two to three years, the former Russian finance minister and the head of the Civic Initiatives Committee think tank Aleksei Kudrin told the Business FM radio station on Friday.
“With oil at $40 per barrel, real incomes will shrink by 3-5% (in 2015), and by up to 10% in 2-3 years,” Kudrin said.
Ex-finance minister added that the decrease will take place for the first time since 2000 and some whole social groups will feel the pain. “That’s why the government should realize that it cannot fully compensate [this fall], just like we managed to do it in 2009 when on average we did not face a decrease in real incomes,” Kudrin said.
“A shift to targeted aid using funds of budgets from all levels is one of the most important structural reforms on long-term agenda,” he added.