Russia to Take Anti-Crisis Measures at $80 Oil Price

Russia will take anti-crisis measures in the event oil falls to $80 a barrel, Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum on Thursday.

“If the oil price falls and goes lower than $80 a barrel, if the growth in the economy falls around 0-1 percent, and if we see that incomes fall sharply below what we forecast in the budget, that will be grounds for introducing anti-crisis measures,” Siluanov said on Russia 24 TV.

Previously, he said 500 billion rubles ($16 billion) could be allocated to the federal budget for 2013 for anti-crisis measures.


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