Economy 52,861 Posted October 16, 2014 Share Posted October 16, 2014 http://www.businessweek.com/articles/2014-10-13/oil-prices-are-hurting-russias-economy As if economic sanctions werent enough to put Moscow into stagnation, now the falling prices of oil are putting even more pressure on Russia Oil represents 45% of Government Revenue and about half of its exports. Russia will likely have to either borrow money this year or dip into cash reserve funds to cover the shortfall The Russian Currency (Ruble) continues to tumble as a result. If oil prices remain at the current level, Russia is likely to contract 0.4% next year and slip into recession Link to post Share on other sites More sharing options...
Chromatislaps 34,854 Posted October 16, 2014 Share Posted October 16, 2014 good, I hope Russia stops their meddling and keep within their own borders Link to post Share on other sites More sharing options...
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