January 13, 2016 / 7:31 AM / 3 years ago

Russia says it can balance budget at oil price of $82 per barrel

MOSCOW, Jan 13 (Reuters) - Russia can balance its budget at an oil price of $82 per barrel, Finance Minister Anton Siluanov said on Wednesday.

This year’s budget is based on an oil price of $50 per barrel, but Brent, the global benchmark, was trading at just $31 on Wednesday.

“Our budget will be balanced when the price is $82 per barrel so there are still a lot of decisions to be made when it comes to budget policy,” Siluanov said.

He said that last year’s budget deficit was around 2.6 percent of gross domestic product. (Reporting by Darya Korsunskaya, Oksana Kobzeva and Alexander Winning; Writing by Katya Golubkova; Editing by Andrew Osborn)

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