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Canada Goose online Russia risks depleting oil savings Canada Goose online

Canada Goose Jackets MOSCOW, Dec 10 (Reuters) Russia has based its three year budget forecasts on optimistic canada goose factory sale oil price expectations canada goose store that, combined with heavy social spending, may lead to the depletion of its rainy day savings, the International Monetary Fund warned on Tuesday. Canada Goose Jackets

canada goose black friday sale The government sees the average price for oil, Russia main export, at Canada Goose Parka around $100 per barrel over the https://www.canadagooseoutletshop.co.uk next three years. canada goose black friday sale

cheap Canada Goose 2014 canada goose clearance and even uk canada goose more for 2015 2106, budgets appear insufficiently ambitions, including due to optimistic revenue projections Canada Goose online based on high oil price assumptions, buy canada goose jacket the IMF said in a statement canada goose uk shop after an annual mission to Moscow. cheap Canada Goose

canadian goose jacket The statement shows that the Canada Goose Outlet IMF is notably more concerned about Russia fiscal stance than it was just three months ago when it advised canada goose coats against higher spending and urged Russia to rebuild its fiscal buffers. canadian goose jacket

buy canada goose jacket Last week, Canada Goose Coats On Sale government sources revealed to Reuters that Russia funding gap could reach $300 billion Canada Goose Online by the end of the decade and that the country could exhaust its $90 billion Reserve Fund within as little as three years. buy canada goose jacket

canada goose store In addition to a possible revenue shortfall, the IMF warned that the temporary diversion of pension canada goose clearance sale contributions to the state system will create further pressures when it is reversed, as will planned infrastructure spending. canada goose store

canada goose clearance sale The Reserve Fund, which collects windfall energy Canada Goose Jackets revenues, can be used to cover budget shortfalls only after it reaches 7 percent of gross domestic product, which the Finance Ministry cheap canada goose uk expects will take at canada goose uk black friday least nine years. canada goose clearance sale

canada goose clearance An amendment, however, cheap Canada Goose permits dipping into the fund to cover planned revenues that have not materialised. canada goose clearance

canada goose is necessary to rebuild these buffers, including through pension canada goose black friday sale reform and pro growth expenditure rationalization, the IMF said. canada goose

Canada Goose Parka The Fund called also for a tighter monetary policy to rein in inflation. The Economy Ministry now envisages consumer canada goose uk outlet prices to rise by 6.2 percent this year, Canada Goose sale compared to the central bank target of keeping price growth under 6 percent. Canada Goose Parka

canada goose coats higher than targeted buy canada goose jacket cheap inflation even while the economy remains near full capacity indicates a need for a tightening basis, canada goose black friday the IMF said. canada goose coats

Canada Goose sale The canadian goose jacket Fund also cut Russia GDP growth forecast for next year to uk canada goose outlet 2 percent from an earlier 3 percent, following the Economy Ministry own downward revisions. Canada Goose sale

canada goose deals This is the Fund fourth cut to its 2014 growth forecast, from an initial 3.8 percent. It also said there are risks to the new forecast from a possible tightening of global financial conditions and Russia dependence on oil. canada goose deals

Canada Goose Outlet Last week, the Economy Ministry canada goose coats on sale cut its growth forecasts to 1.4 percent this year, 2.5 percent canada goose in 2014 and 2.8 percent in 2015. (Reporting by Lidia Kelly; Editing by Douglas Busvine) Canada Goose Outlet.