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Unit 4 Macro: Russian Government and Falling Oil Prices

Geoff Riley

17th June 2012

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Russia is one of the world’s biggest producers of crude oil and gas and the price that these energy supplies fetch on world markets have a disproportionate effect on Russian GDP growth, their balance and payments and the Russian government fiscal position. In the summer of 2012 oil prices in particular have been falling quite sharply - a concern for the Russian Finance Ministry

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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