Around the world (Russia, economy, crude oil)
Economic crisis becomes the main topic at public debate by Nina Achmatova Prime Minister Medvedev tells Russians to prepare for the “worst scenario” as the country’s economy follows the downward spiral of oil prices. Government spending will be cut by 10 per cent. Wages are in arrears. Yet, experts do not expect any mass protest for now. Moscow (AsiaNews) – Russian government officials spoke this week at an economic forum in Moscow about Russia’s worsening economic outlook, warning the population to prepare for the “worst scenario” as low oil prices continue to sink the country’s energy-dependent economy. Speaking at the annual Gaidar Forum in Moscow , Russian Finance Minister Anton Siluanov warned that oil prices might continue to drop and that country might see a repeat of the 1998 financial crisis. He pointed out that Russia needs oil to be US$ 82 whilst at present it hovers around US$ 30. [full text] Oil falls below 30 dollars a barrel as world’s oligarchies...