Tuesday, December 2, 2014

The Budget Impact That Falling Oil Prices is Going to Have on Venezuela, Iran and Russia

Last year, approximately 65% of Venezuela's government spending came about because of oil revenues. That will be impossible with the oil price plunging.

In Iran, oil revenues accounted for roughly 50% of government spending.

Russia's take of oil revenues accounted for 40% of the countries government budget.

The great government squeeze by falling oil prices is om.

(budget estimates via WSJ)

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