Under pressure from the falling global oil price, Russia is requiring government departments to cut spending by 10 percent, repeating a policy it also imposed in 2015, two government sources told Reuters.
The cutbacks will exclude several areas of government spending, including public obligations such as pensions, and pay for government employees.
RBA’s iron ore meltdown
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The geniuses at the RBA have turned their eye to Chinese steel, and, as
usual, the outcome is a disaster: Weakness in the Chinese urban residential
const...
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