Medvedev: oil prices are poorly predictable

Medvedev: oil prices are poorly predictable


Need further measures and in terms of replenishment of revenue part of the budget, and in terms more vigorous spending cuts, said Prime Minister Dmitry Medvedev.

HILL, 18 Jan. Further dynamics of oil prices remains unpredictable, there remain large risks for the replenishment and performance of obligations — the necessary measures and income and expenses budget, said Prime Minister Dmitry Medvedev.

“Oil prices remain the same, their future dynamics are also poorly predictable. Moreover, as you know, sanctions against Iran are removed, and oil continued to fall today. Accordingly, there remain large risks for the budget execution of budget obligations,” — said Medvedev at a meeting on the budget for 2016. He also stated that it was necessary to take additional measures to replenish the budget.

“Therefore, additional measures are required and in terms of replenishment of revenue part of the budget, and in terms more vigorous spending cuts, what we talked about at the meeting on Friday,” added the Prime Minister.