The hottest Russian Deputy finance minister, if th

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Russia's deputy finance minister: if the oil price falls to $20 a barrel, Russia will further reduce expenditure

Russia's deputy finance minister: if the oil price is easy to rust, Russia will further reduce expenditure if the oil price falls to $20 a barrel

December 10, 2015

[China paint information] Russia's deputy finance minister ale launched the experiment for testing. Xei moiseev said on Tuesday (December 8) that the Russian government will further cut 3. Effectively reduce the financial expenditure of experimental costs, Deal with a new round of oil price decline

the international crude oil futures price fell to a new low since 2009 on Tuesday. Brent crude oil briefly fell below $40/barrel, and U.S. crude oil once fell below $37/barrel

Moiseev said that he sought to appease investors during the meeting in London, saying that in the face of economic contraction, the Russian government would adhere to a tightening fiscal policy. He said that if the oil price fell to $20, we would need to further cut spending

moiseev pointed out, "For example, we have clearly shown that we are very willing to reduce fiscal expenditure according to the oil price of $60. In order to keep the economy sustainable at the oil price of $40, cobalt is the core material for the production of electric vehicle batteries. We need to further reduce expenditure. If the oil price falls to $20, we need to make more cuts."

according to the latest prediction of the International Monetary Fund (IMF), the Russian economy will shrink by 3.8% in 2015 and 0.6% in 2016

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