Tuesday 1st October, 2013
The Russian government has submitted to the lower house of parliament, the State Duma, a draft of its 2014-2016 “austerity” budget. Russia is set to record a budget deficit of 391 billion rubles ($12 billion) in 2014, rising to 817 billion rubles the following year. The budget is based upon an average oil price of $93 a barrel in 2014 and $95 a barrel in 2015 and 2016, as well as average annual inflation of 5 percent in 2014 and 4.5 percent in 2015 and 2016.
Read the full story at RIA Novosti