(MENAFN) Russia has seen clear impacts on its budget amid the oil prices' plummet that has been going on for 20 months, thus it's now discussing to apply drastic measures that were unlikely to even consider before the turmoil.
Accordingly, the nation's financial officials are currently in talks to calculate ruble rate levels against the dollar that could compensate for some budget losses by basically preventing the ruble from strengthening too much.
Additionally, the budget could face an additional shortfall of up to USD31.7 billion this year if crude prices stay at around USD30 per barrel, putting at risk the target of keeping the deficit at 3 percent of gross domestic product.
Moreover, the government has already suggested it may tap the sovereign wealth Reserve Fund, raise oil taxes, sell off some of the state's biggest firms or hike dividend payouts from them, among potential measures.
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