Soros: Russia Has Reserves Enough "For Couple of Years"

Russia has enough international reserves in the near future in an unfavorable economic environment.

U.S. billionaire financier George Soros said it in an interview with Bloomberg.

"Russia is in a very weak position. But they have enough reserves. They will last for a couple of years," he said.

According to him, the most difficult year for the country will be 2017, since by that time there would be very few reserves.

Soros said that due to the current economic situation it was necessary to "cut down" the Russian budget that would harm the "social contract," for which, according to him, Putin was popular among the population. He explained that the "social contract" in Russia was a "financial stability, with a gradual increase in prosperity."

However, the financier also noted the efforts of Putin and Russian financial professionals who work in the current situation in order to minimize the negative consequences for the country.

Earlier, it was reported that the federal budget deficit of the Russian Federation amounted to RUB 2.05 trillion in 2015.