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PM Medvedev: Russia must be ready for worst case economic scenario

13 January 2016 12:30 (UTC +04:00)

Baku – APA. If oil prices continue to fall, it will be necessary to revise the budget in which the oil prices are set at $50 a barrel, Russian Prime Minister Dmitry Medvedev said on Wednesday.

Speaking at the Gaidar Forum in Moscow, Medvedev said his country needs to be ready for the worst case economic scenario.

“The budget savings, first of all, should apply to the expenses of the state apparatus and the lost income can be replaced by the privatization of state assets,” he noted.

Earlier, a source in the financial-economic bloc of the Russian government told RBK that the Finance Ministry is now considering two options for the budget (at $40 or $25 per barrel). The first option is considered basic. The deficit can reach 7.5 percent of GDP in the second option is chosen.