Putin: in case of falling oil RF can adjust the budget, but not at the expense of the social sphere – Kommersant

Putin: in case of falling oil RF can adjust the budget, but not at the expense of the social sphere – Kommersant

                             
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Russia, if necessary, will adjust their spending, but not at the expense of social obligations. This was announced by Russian President Vladimir Putin on November 16 at a press conference following the summit, the Group of Twenty, reports Tass. The Head of State noted that in 2014 the average price of oil will be at a level that was laid in the budget, “and next year – we’ll see.” “But if it (the fall in oil prices) will occur, we will adjust our spending – not touching our social obligations”, – said Vladimir Putin. Russian President stressed that “Russia on the budget reduction in oil prices is not affected, meaning the decision of the Central Bank of the transition to a floating exchange rate.”