Russia Expects ‘Big Problems’ for Budget After 2016 – Minister

RIA NovostiFriday 6th December, 2013

MOSCOW, December 6 (RIA Novosti) – Russia’s Finance Ministry predicted serious difficulties Friday for the budget in 2016 and 2017 as slowing economic growth means there will be insufficient funds available to honor spending commitments. Short term and long term growth forecasts for the Russian economy have been cut repeatedly this year, with officials warning Russia is entering a period of economic stagnation. “We see big problems in 2016 and 2017,” Finance Minister Anton Siluanov said, Prime news agency reported. “Now is the time when we need to take decisions about the curtai…

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