The author posted a question in Business, Finance
Oil futures dropped to $89 per barrel. How will this affect Russia's economy? and got a better answer
Response from
Forecast of the Ministry of Economic Development for 2014-100 dollars, the 2015 budget is based on the price of 96 dollars. If the actual price is lower, there will be problems. This is a shortage of revenues to make the planned expenditures. Gas will not help, it has its own complications. Especially the secret prices for supplies to China to the detriment of Russian interests. Hence, they will freeze major projects, funding of the social sector, salaries of state employees, pensions, benefits. As a last resort, they'll resort to emission. Inflationary processes will intensify and real incomes will fall. The ruble will feel even worse for a number of reasons. Hard times ahead?
Forecast of the Ministry of Economic Development for 2014-100 dollars, the 2015 budget is based on the price of 96 dollars. If the actual is lower, there will be problems. It is a shortage of revenues to make the planned expenditures. Gas will not help, it has its own complications. Especially the secret prices for supplies to China to the detriment of Russian interests. Hence, they will freeze major projects, funding of the social sector, salaries of state employees, pensions, benefits. As a last resort, they'll resort to emission. Inflationary processes will intensify and real incomes will fall. The ruble will feel even worse for a variety of reasons. Hard times are ahead.
You can't. You can't influence something that doesn't exist.
We're all going to die Well and get back at the U.S. for all their shitty deeds. With an atomic bomb one last time:
In 2014, there is a budget surplus. In 2015 it will be tight, but gas should draw the planned revenues to the treasury. Specifically, the RTS is falling and its revenues are decreasing, the treasury gets less money and there is less money for the maintenance of enterprises. This year we will see a slight increase in food prices. Tourism will be unaffordable. The savings rate in the bank will become lower and loans will become more expensive and unaffordable.
This affects the ruble exchange rate, and the economy depends on our leaders.