Medvedev: the budget should set a price band for oil

Medvedev: the budget should set a price band for oil

Moreover, this narrow corridor is necessary, said Prime Minister Dmitry Medvedev. In this year’s budget pledged an average annual oil price in 50 dollars for barrel.

SLIDES, 15 Jan. In the budget of the Russian Federation need to install a corridor of oil prices, narrowing as much as possible, said Prime Minister Dmitry Medvedev.

Traditionally, the Federal budget is laid annual average forecast price for oil Urals, the basic goods of the Russian export. This year’s budget was imposed proceeding from the average price of 50 dollars per barrel. The Russian authorities already declared that the budget will have to adjust.

“First of all, you need to decide, what is the Outlook for oil prices is most realistic. This is a very difficult task, I want to say. It is clear that it is more likely to go about a particular figure, and of a certain corridor that I would like to narrow – to the extent it will succeed,” Medvedev said at a meeting on the budget 2016.

The Premier has repeatedly underlined the need to reduce inefficient budget spending, “so that even in such a difficult budgetary situation to ensure the fulfilment of social obligations, the funding of protected paths”.