Reduction of the Russian budget: where to begin

Government Regulation igry20-01-2009 Reduction of the Russian budget: where to begin Russian state budget for this year can still be cut. A few days ago, Prime Minister Vladimir Putin instructed the Finance Ministry to amend the 2009 budget based on the world oil price of $ 41 per barrel. The current version of the budget is calculated from the cost of a barrel to $ 95. Where can begin to cut budget expenditures? $ 41 per barrel - is approved by the Government forecast of oil prices in 2009. Now oil quotes revolve somewhere around this level, falling to $ 36, then flying up to $ 45. With such a forecast oil prices, Russia's budget will suffer a deficit of 4-6%. Say what you like, but the revenues from oil exports until the foundation of Russian wealth. This problem is there are two approaches - to reduce the appetite by reducing public spending or deficit financing of the reserve funds, which accumulated over several years of surplus states from oil exports. Budget cuts - not the best idea, says a leading expert at the Center for Macroeconomic Analysis and Short-Term Forecasting Dmitry Belousov.