The budget recognizes the cheap oil

Ministry of Economic Development would adjust macroeconomic forecast for 2009 based on the average oil price of $ 41 per barrel, said the head of the Russian Federation Ministry of Economic Nabiullina the Presidium of the Government on Monday. Previously articulated expectations of a 4-percent increase in the global economy at the same time give way to fall at a rate of 0,3%. Under these conditions, inflation in Russia amounted to about 13%, and the dollar will reach 35.1 rubles, news agencies reported quoting the Minister of Economic Development. Nabiullina explained that previous macroeconomic forecast for 2009 [calculated in December based on 50 dollars per barrel, Russian oil Urals - RS] done in other circumstances, "but the situation in the global economy is complex, has a prolonged and tends to deteriorate" (quote in "Interfax"). Prime Minister Vladimir Putin has instructed the Finance Ministry to adjust the parameters of the budget for 2009 based on new estimates of the cost of energy. Recall that the current version of the budget for next year, Dmitry Medvedev signed on November 24, laid out based on the average cost of Urals blend of 97 dollars per barrel. However, it was already clear that it will have to reconsider - on expectations of cheaper (about $ 50 a barrel) oil, Finance Minister Alexei Kudrin said before the approval document of the upper house of parliament.