marynazmlyna
30.12.16, 07:32
www.forbes.com/sites/realspin/2016/11/02/russias-road-to-economic-ruin/#3edb6c875a30
"As The Times of London recently outlined, the country’s national reserves have shrunk by two-thirds since the start of hostilities with Ukraine in 2014, falling from £67 billion (roughly $88 billion) that year to barely £23 billion (roughly $30 billion) today. While the depleted funds have been used to bolster the hemorrhaging national budget, the larger economic crisis has plunged millions into poverty and all but eliminated the gains in living standards made in Russia in recent years."
"Russia’s “rainy day” plan, the Russian Reserve Fund (RRF), is among the hardest hit. Estimates now predict that the RRF may become insolvent as early as this year. Although the Finance Ministry is taking steps to avoid such an outcome by selling foreign currency to finance the budget, federal expenses are still depleting reserves at an alarming rate."