Research and analysis

Russia Economic - Gaidar Forum 2015

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

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This publication was archived on 4 July 2016

This article is no longer current.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



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.

Published 26 January 2015