Arab Today, arab today russian economy to endure difficult 2016
Last Updated : GMT 23:00:12
Arab Today, arab today
Arab Today, arab today

Russian economy to endure difficult 2016

Arab Today, arab today

Arab Today, arab today Russian economy to endure difficult 2016

The recent decline in oil prices has cast a shadow on the recovery of Russia's oil-dependent economy
Moscow - AFP

Russia's finance minister predicted Wednesday that 2016 would be a difficult year for his country's recession-hit economy, already reeling from low oil prices.

As the economy slides, Russia's battered ruble reached a 2015 low on Wednesday, standing at 73.24 against the dollar, a year after suffering its worst decline in 15 years.

"Next year will not be simple," Anton Siluanov said in an interview with Russian state television. "The latest predictions show that the price of our main exports could be lower than predicted."

The ruble lost around half of its value in 2014 but recovered slightly as energy prices stabilised earlier this year, allowing officials to claim the worst of the crisis had passed.

But the recent decline in oil prices -- with Brent crude reaching an 11-year low this month -- has cast a shadow on the recovery of Russia's oil-dependent economy.

The country's 2016 budget had been calculated on an oil price of $50 per barrel, a figure President Vladimir Putin said was an "optimistic" assessment of the situation, with the price now hovering around $37.

Siluanov predicted the oil price would stay around $40 per barrel on average, and that spending cuts and privatisation measures would be integrated into the budget.

At his annual press conference earlier this month, Putin insisted the country could weather the headwinds, despite volatility in oil prices.

The Russian government has forecast the country's GDP would increase 0.7 percent next year, after falling 3.7 percent in 2015.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russian economy to endure difficult 2016 Arab Today, arab today russian economy to endure difficult 2016

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday