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Friday, July 28, 2017

Belousov told how to solve the problem of budget deficit


According to the assistant of the President of Russia, with the budget deficit that arose in consequence of the fall in energy prices, it is necessary to deal otherwise the country will simply “eat away” their “savings” – those reserves, which managed to create during the period of high prices for oil and gas.

“The government will have to solve this problem… Because if the current level of the deficit around 10% of GDP are maintained, while maintaining oil prices at $40-50 per barrel, we will eat into our reserves. To this situation is to exit, the deficit must be reduced,” – said Belousov.

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