{"id":345909,"date":"2020-04-08T10:34:19","date_gmt":"2020-04-08T05:04:19","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=345909"},"modified":"2020-04-08T11:03:26","modified_gmt":"2020-04-08T05:33:26","slug":"russias-effort-to-fight-covid-19-hit-by-low-oil-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/russias-effort-to-fight-covid-19-hit-by-low-oil-prices\/","title":{"rendered":"Russia\u2019s effort to fight Covid-19 hit by low oil prices"},"content":{"rendered":"<p>As leaders around the globe compete with ever-bigger spending packages, the Kremlin is hoarding hundreds of billions of dollars in reserves, worried that oil prices will stay low for a long time.<\/p>\n<p>Russia has more than $550 billion stashed away, including a rainy-day fund worth $165 billion, but ING Bank estimates President Vladimir Putin\u2019s support measures so far amount to only about 2 per cent of gross domestic product.<\/p>\n<p>During the 2008-2009 global financial crisis, the country spent a tenth of GDP to counter the collapse but was able to rebuild its reserves within just a few years as crude rebounded. This time around the Kremlin is hunkering down for a prolonged period of low export revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As leaders around the globe compete with ever-bigger spending packages, the Kremlin is hoarding hundreds of billions of dollars in reserves, worried that oil prices will stay low for a long time. Russia has more than $550 billion stashed away, including a rainy-day fund worth $165 billion, but ING Bank estimates President Vladimir Putin\u2019s support measures so far amount to only about 2 per cent of gross domestic product. During the 2008-2009 global financial crisis, the country spent a tenth of GDP to counter the collapse but was able to rebuild its reserves within just a few years as crude [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-345909","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/345909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=345909"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/345909\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=345909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=345909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=345909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}