Russia pushes spending cuts despite oil boom
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. Even as hundreds of millions of unexpected dollars flow into Moscow’s coffers thanks to surging oil prices, Moscow is still pressing ahead with spending cuts.
No reprieve on planned spending cuts
Despite the unexpected bonus of a war in the Middle East pushing up oil prices, the Russian government has still started pressing ahead with spending cuts. Given the military economy, this will force cuts on the civilian sector, which could lead to renewed problems.
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