BRISBANE, November 16 /TASS/. Russia is going to adjust its spending if necessary but at the expense of social cuts, Russian President Vladimir Putin told a news conference on results of the G20 summit.

He said the average annual oil price would be at a level included in the state budget in 2014. Let’s wait and see what happens next year,” Putin said.

“If the oil prices fall, we are going to adjust our spending but that will not influence our social obligations,” Putin stressed.