Research and analysis

Russia Economic - Gaidar Forum 2015

This publication was withdrawn on 1 August 2016

This publication was archived on 4 July 2016

This article is no longer current. Please refer to Overseas Business Risk – Russia

Report from the Embassy In Moscow on PM Medvedev's speech at the recent Gaidar Forum.

Detail

PM Medvedev reiterates his analysis of Russia’s deteriorating economic situation. Finance Minister Siluanov suggests that the lower oil price could leave Russia with a 3 trillion rouble (£30 billion) fiscal gap – and warns that a proposed 10% federal budget cut would only cover one-third of this. Medvedev also says that the government will seek immediate repayment of Russia’s $3 billion Ukrainian bonds unless Kyiv provides assurances that it will honour its debts.