Russian budget addresses any scenarios in global markets — Finance Minister
Business & Economy
October 12, 14:25
To this end, the baseline oil price was lowered to $50 for all three years of the financial plan, Anton Siluanov explained
MOSCOW, October 12. /TASS/. The Russian budget has been drafted to address any scenarios in international markets, Finance Minister Anton Siluanov said.
"The budget was prepared with consideration of resilience to any situation development scenarios in international market and the world economy," he said when speaking at the budget and taxes committee of the State Duma, the lower house of the Russian legislative assembly.
"To this end, we lowered the base crude oil price to account for federal budget expenditures from $59 [per barrel] this year to $50 [per barrel] during all three years of the financial plan," Siluanov added.