Kudrin: 10% budget cut is an optimistic prognosis
Read on the website Vestnik KavkazaA former Finance Minister of Russia, the head of the Committee of Civil Initiatives (CGI) Alexey Kudrin, has said that a 10% budget cut in 2016 would be an optimistic prognosis.
Budget cuts cannot be avoided this year due to the fall in oil prices. They will probably remain at a low level. Maybe it will be $35, or $30 dollars. It is very difficult to predict it now. But it is a significant reduction, even in comparison with the level that was at the end of last year. A 10% reduction is an optimistic forecast,'' RIA Novosti cites him as saying.