Falling oil revenues strain Russia's budget

Kremlin faces revenue loss as prices of oil, its largest export, falls globally forcing it to revise its growth figures.

    Russian financial markets have hit an eight-month low as the prices of oil, the country's largest export, continued to plunge, lowering revenue from the lucrative sector.

    The Kremlin had to revise its growth figures for the year downwards – from 3.7 per cent to 3.4 per cent.

    And as the government's revenues dwindle, investors have started pulling their money out of Russia at an alarming rate.

    Al Jazeera's Rory Challands reports from Moscow.

    SOURCE: Al Jazeera English


    YOU MIGHT ALSO LIKE

    Interactive: Take a tour through divided Jerusalem

    Interactive: Take a tour through divided Jerusalem

    Take a tour through East and West Jerusalem to see the difference in quality of life for Israelis and Palestinians.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.

    Inside the world of India's booming fertility industry

    Inside the world of India's booming fertility industry

    As the stigma associated with being childless persists, some elderly women in India risk it all to become mothers.