*** Moscow Stock Exchange: oil knocks the price list (-5%), down ‘the ruble – Il Sole 24 Ore

15/01/2016 13:32

 Prime Minister Medvedev: “serious risks” for the budget
  
 (Il Sole 24 Ore Thomson Financial) – Milan, Jan. 15 – The oil
 free fall below 30 dollars a barrel precipitates
 ruble and the Moscow Stock Exchange but also concerned about the first
 Minister Dmitri Medvedev noted that “serious risks” for the
 state budget. The RTS index nominated in dollars
 Moscow’s main equity market moves back by 4.8%
 while the Micex, in rubles, yields 3.2%.
Concerns about the prospects of the Russian economy
 they slide the local currency to its lowest since December 2014
 with the dollar / ruble to 77.54 (after touching 77.72)
 and the euro / ruble to 84.60.
“The dramatic movements in the course of oil, as we
 seen in recent weeks, and especially in recent
 days, create very serious risks for the implementation of
 budget “Medvedev said during a council of ministers
 as it reported by the Russian agencies.
The Russian government is working on a plan for spending cuts
 and the prime ministers reiterated its intention to reduce
 outputs not necessary in order to comply with the obligations
 social expenditure such as defense.
According to the Russian press, and in particular Vedomosti,
 the government is preparing to revise the estimates of GDP
 of this year expecting a contraction of the economy,
 in the order of 0.8%, compared with + 0.7% estimated up to
 right now.
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 (RADIOCOR) 01/15/16 13:32:53 (0278) ENE 3 NNNN