Experts compare the economic situation in Russia with the situation in the Soviet Union before the collapse.

The failure of OPEC to reduce oil production has dealt a serious blow to the Russian economy. From yesterday the index of the Moscow exchange MICEX-RTS fell by 4% to its lowest level for the last 5.5 years. About it today, writes the German newspaper Die Welt, noticing that as of today the ruble lost another 3% in relation to the Euro and the dollar. This all happened after yesterday's decline of oil prices by 8% after the decision of OPEC to reduce production, predeccesor.NO with reference to zn.ua.

The publication writes that every drop in the value of a barrel at $ 10 it costs Russia 30 billion dollars. In the end, the Ministry of Finance acknowledged that the losses through the reduction of "black gold" was 100 billion dollars.

"After the last falling prices, the annual budget deficit should now be 120 billion dollars, because Russia's budget consists of 50% of the income from the sale of oil and gas," the article says.

The rest of the content of the budget is carried out through the sale of minerals and metals on the market is not the best time.

Experts service Stratfor, which is also called "private U.S. intelligence", predicting that next year Russia will cover the recession. At the same time, the results of the expert survey, which was conducted by Bloomberg, the danger of collapse of the Russian economy as high as ever.

"If oil prices fall to $ 60, this will inevitably threaten financial stability," the article says.

Expert Fabian Hangerland from Berenberg Bank believes that this year Russia will be able to keep the economy afloat. However, the outflow of capital, inflation, high interest rates, the growth of corporate bankruptcy will cause a deep recession and financial crisis.

Some analysts compare the economic situation in Russia with the situation in which the USSR in the second half of the 80's and early 90-ies. Then Saudi Arabia increased its daily oil production from three to eight million barrels. In consequence of this, the price of "black gold" fell to $ 30 and it struck the USSR. In 1998 Russia experienced bankruptcy through the reduction of oil prices doubled.

Organization of countries-exporters of oil on Thursday, November 27, maintained quotas on oil production at 30 million barrels per day. The decision caused a fall in the price of "black gold", which in turn resulted in the depreciation of the Russian ruble.

Source: http://censor.net.ua/