Page 64 - RusRPTMay20

6.1.1 ​Budget dynamics - results
h​ e finance ministry is ​
T rewriting the 2020 federal budget
demand turn out to be right, then no production cut will help raise oil prices.”
​ to assume
$20/barrel oil prices​. As a result of RUB3-4 trillion in unreceived oil and gas
revenue, Russia will ramp up borrowing by RUB1-1.5 trillion ($13-19BN).
Analysts think rewriting the budget is smart. As former economy ministry
official Kirill Tremasov writes,” if the forecasts of a 15-20mn barrel reduction in
64​ RUSSIA Country Report​ May 2020 ​ ​www.intellinews.com