Plan to shore up Russian economy to cost $11.7bn, minister saysFebruary 18, 2016 - 16:47 AMT PanARMENIAN.Net - A Russian government plan to shore up the recession-battered economy will cost around 880 billion rubles ($11.7 billion), Economy Minister Alexei Ulyukayev told a cabinet meeting on Thursday, Feb 18, according to Reuters. Some of these funds have already been factored into the 2016 federal budget, Ulyukayev said, but the government still needs to find additional money. Some 185 billion rubles will be allocated from the budget's anti-crisis fund and there is also some money left over from last year's budget, but that would not suffice, he said. With oil prices well below levels originally envisaged for this year, the government of Prime Minister Dmitry Medvedev is trying to keep the economy from sinking too much into recession and at the same time maintain control over the budget deficit. Medvedev reiterated on Thursday that all social security obligations - pension, health insurance, disability and other such payments - must be met this year, but that there should be a greater control over public spending. Ulyukayev said some additional funds could probably be found with amendments to the budget law. "Now, the main thing is to decide on priorities," he said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |