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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (12099)	5/6/2011 4:56:16 PM
From: Wharf Rat	Read Replies (2) \| Respond to of 24232

Oil's Drop Tests Russia's Budget BY WILLIAM MAULDIN MOSCOW—Russia's ability to balance its $375 billion budget has come under threat after a sharp drop in crude prices, especially since the Kremlin plans on boosting spending during a year of parliamentary elections and preparations for the 2012 presidential vote. Russia's annual budget is expected to lose $36 billion from Brent crude's $18 drop from a recent high of $127.02 a barrel, assuming prices don't rebound. The crude drop threatens to put the budget into deficit, since Finance Minister Kudrin has said the budget needs an average 2011 oil price of $115 to balance, although many economists say the crucial oil price is somewhat lower. online.wsj.com