Oil prices will squeeze Russian budget spending
The government will tap reserves to cover the growing deficit while maintaining social spending
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In this article
- Worsening prospects
- Social expenditure remains sacrosanct
- Pension contributions frozen
- Private pension funds in trouble
- Drawdown on reserves
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_350.jpg "Russian Finance Minister Anton Siluanov at the Gaidar Forum 2016 in Moscow (Reuters/Maxim Shemetov)")