Russia's Budget Covers Every Scenario in Global Markets, Says Finance Minister

Anton Siluanov explained that for this purpose, the base oil price has been lowered to 50 dollars for each of the three years of the financial plan.

Moscow, October 12. /TASS/. Finance Minister Anton Silvanov said Russia's budget was prepared to handle any scenario in international markets.

Speaking at the budget and tax committee of the State Duma, the lower house of the Russian legislature, he said: "The budget is prepared with flexibility against any scenarios of development of conditions in the international market and global economy."

"To this end, we have lowered the base price of crude oil for calculating federal budget expenditures from $59 [per barrel] this year to $50 [per barrel] during all three years of the fiscal plan," Silvanov added.