A 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.
