25-01-2017 15:17 via uk.news.yahoo.com

Russia's state finances seen stable if oil stays at $50-55 per barrel - EBRD

By Jakub Iglewski WARSAW (Reuters) - Russia's state finances will stay in reasonably good shape if oil prices hold at current levels but Moscow needs structural reforms to improve economic growth, the chief economist at the European Bank for Reconstruction and Development (EBRD) said. Oil, a crucial source of revenue for Russia, has bounced back above $50 and last month Russian manufacturing expanded at its fastest pace since 2011, a sign the economy is starting to grow again after more than two
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