Siluanov forecasts oil price at $40 per barrel in 2016

Russia's finance ministry expects the average price of oil at $ 40 per barrel, Russian Finance Minister Anton Siluanov said.

"Our estimate for next year is around $40 per barrel when estimating budget revenues. We have an understanding about how to act at $40 per barrel, measures have been prepared," he said in an interview with the Rossiya 24 TV channel. "In fact, we must be ready for any development of the situation around the oil price," the minister added.

According to him, the inflation will fall to 6-7% by the end of 2016 in comparison with 13% in 2015.