Russia is entering a strip of major economic crisis. It happened after oil prices fell below 50 dollars a barrel.Such a drop could have disastrous consequences, including the devaluation of the ruble and a sharp decline in living standards of people in the next year, says a British newspaper The Guardian . Putin said his government would do everything to prevent a repetition of the collapse in 1998, which also was caused by falling oil prices and led to the destruction of savings of many ordinary Russians. However, the sharp decline in oil prices leaves him very little room to maneuver. Experts believe that Russia’s economy threatened by serious difficulties, despite the two huge stabilization fund accumulated during the growth of oil tsen.Padenie oil prices from the July peak of $ 147 notes in the perforated hole in the budget estimates of government. Now it faces a shortage of 150 billion dollars for their spending plans. Therefore, in 2009 it will have to dramatically reduce them. Iran – the second in OPEC oil production volumes, and he has already felt the burden of falling prices more than any other nation in the Middle East. They say that it collected on a black day stabilization fund, designed for use in the fall of oil revenues, very exhausted because of the mismanagement of government of Mahmoud Ahmadinejad (Mahmoud Ahmadinejad). Precise data on it is state secret, but one deputy in the Iranian parliament recently announced that it was 7 billion dollars. This is barely enough to import gasoline for one goda.Iran particularly vulnerable because 80 percent of its revenues come from oil sales. The IMF recently estimated that Iran needed to balance the budget to oil prices than falls below 95 dollars a barrel. Now that those prices were below $ 50, the deficit could be oshelomlyayuschim.Saudovskaya Arabia, is a worldwide leading oil producing countries and oil exporter, may also reduce operating costs and readjust its ambitious long-term development plans in light of falling prices neft.No prudent fiscal -tax policy allows the Kingdom to maintain the relatively strong position because its current budget is based on forecast prices to 45-50 dollars per barrel. Scheduled for next year increases may be granted only if the prices will be 55-62 dollara.K mid-November quotes for the stock markets of Dubai, Saudi Arabia and Kuwait dropped by 62.5, 50.4 and 29.5 per cent respectively. It is expected that Kuwait, which has 9% of global oil reserves, will face for the first 10 years of budget deficits, if prices continue to fall. In this regard, the country will be a powerful incentive to diversify the economy and the care of nefti.Dubai – is the most secular and open emirates of the UAE. There, in recent years due to growth in oil prices has been booming construction and real estate, though he has his own little oil. But he began to experience a slowdown in development. However, many welcome a recession, hoping to reduce the number of foreigners in the country and the revival of vanishing national samobytnosti.Ugo Chavez (Hugo Chavez) has reduced aid to Venezuelan foreign allies and is willing to make further reductions in costs, both domestically and abroad, because decline in revenue from oil sales is a setback for the blow to his socialist revolution. Government warned to impose a regime of austerity after several years of large cost on social programs, nationalization, procurement of arms and diplomacy. This energy giant South American oil is half the volume of exports and revenues from its sales – 95 percent of government revenue. Therefore, the ambitions of the President in connection with the decline in income could severely postradat.Chaves recently said that Venezuela survive any financial storm, and that it will be enough prices to 80-90 dollars per barrel. Now, these statements seem to be overly optimistic. The budget next year, fell in tatters, the flow of foreign investment diminished, so the Government has to reduce costs even before the recent drop in oil prices. Last month, it postponed the construction of a refinery in Nicaragua, which is the main ally of Venezuela, and announced the introduction of more stringent conditions for subsidizing oil exports to several countries in the Caribbean basseyna.Gosudarstvennaya oil company sharply cut spending on social programs that have helped maintain the popularity of Ch vez. The next step could be a cessation of assistance to Bolivia and Ecuador, as well as the supply of oil at reduced prices to Cuba. According to Finance Minister Ali Rodriguez (Ali Rodriguez), the budget of 2009 will be significant restrictions over the budget this year, which is 63.9 billion dollars. Some analysts believe that China can survive this crisis because of its reserves, an amount which, according to rumors, is $ 40 billion. But the rate of inflation in this country is 36 percent, and former government there is always fell during a fall in oil prices.
