Russia won’ be able to fulfill its obligations (video)
Russia faces difficult social-economic situation. In 2015 foreign investments in the country have decreased by 92 %. Russian ruble is falling day after day; 1 dollar already equals to 83 rubles. If we take into account that Iran isn’t under sanctions anymore and can sell oil freely hereafter, it is predictable, that fall in oil price will accelerate. It will be an additional blow to Russia, as the economy of that country is wholly based on oil, and the reduction in oil incomes will result in larger economic fall. The official reactions of Russia to this issue are different. Several days ago Prime Minister Dmitry Medvedev announced if fall in oil prices continues, they must get ready for “the worst scenario” of economy. Yet yesterday Dmitry Peskov, press secretary of Vladimir Putin assured that the change in the current exchange rate cannot be observed as “collapse”. International analysts are more pessimistic; according to their assessment, if Russia’s economy continues falling in 2016 as in 2015, it will be the beginning of continuous fall and not another crisis. The prediction of the International Monetary Fund is also pessimistic, according to which in 2016 the fall in Russian economy will reach 1% from 0.6 %. According to calculations of the IMF, in 2017 the gross output of Russia will reduce by 1%. Against the background of all this Russia even doesn’t rule out the possibility of sequester, possibility of reduction in budget expenditure. Minister of Finance Anton Siluanov informed that the Ministries had been instructed to introduce offers for reducing expenditure by 10%. Though Armenia doesn’t suffer direct losses due to fall in oil prices, what’s more, expects reduction in prices of energy carriers imported from Russia, but the negative impact of Russian economy on our country is evident. Mainly it is expressed in the reduction of transfers, which results in the reduction in turnover volumes. According to the assessment of World Bank specialists, each 1 % fall in Russia’s economy reduces the economic growth rate of Armenia by 0.6 %. And Armenia is already concerned about the fulfillment of obligations of Russia undertaken by loan agreements. Many people are sure that Russia won’t be able to fulfill the obligations as a result of the economic situation in Russia.
