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    December 17, 2015. Russian President Vladimir Putin at the 11th annual news conference at the World Trade Center on Krasnaya Presnya

    Russian Budget For 2016 May Need Correction Due to Oil Prices - Putin

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    Putin's 2015 Annual Year-End Press Conference (41)
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    The Russian budget for 2016 may have to be corrected as relying on oil prices to stand at $50 per barrel is optimistic, Russian President Vladimir Putin said Thursday.

    MOSCOW (Sputnik) During his annual press conference, Putin reminded that last year the Russian government based its forecasts for economic development on oil prices of $100 per barrel, but the crude prices halved to $50 per barrel.

    "We counted the budget for next year using this figure, this is an optimistic mark for today — $50 per barrel. But now… it is already 38. Therefore we will have to correct something here too," Putin said.

    Topic:
    Putin's 2015 Annual Year-End Press Conference (41)

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    Oil, budget, Vladimir Putin, Russia
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