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Oil price fluctuation influences Russian economic situation

By Messenger Staff
Thursday, June 28
The international price of oil is falling. Analysts predict that it might fall by USD 50 for one barrel of oil. This of course has a big impact for the country, as the economy is mainly based on the oil production business, among them Russia. Because of this reality, the Russian government was forced to take urgent anti-crisis measures. The Russian government has been forced to reduce social expenses, as well as defense expenses. For Georgia, this tendency causes a decrease in oil prices. This of course is welcomed by Georgian consumers who regularly complain about the high price of fuel, which in turn results in increased prices of consumer goods.