You are here

Russia says it can balance budget at oil price of US$82 per barrel

oil.jpg
Russia can balance its budget at an oil price of US$82 per barrel, Finance Minister Anton Siluanov said on Wednesday.

[MOSCOW] Russia can balance its budget at an oil price of US$82 per barrel, Finance Minister Anton Siluanov said on Wednesday.

This year's budget is based on an oil price of US$50 per barrel, but Brent, the global benchmark, was trading at just US$31 on Wednesday. "Our budget will be balanced when the price is US$82 per barrel so there are still a lot of decisions to be made when it comes to budget policy," Mr Siluanov said.

He said that last year's budget deficit was around 2.6 per cent of gross domestic product.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom