Russia Economy

economic crisis: The original draft of the program was completed last year, but Russia economic crisis has forced the government to reevaluate its spending priorities, according to The Moscow Times. Russia economy is expected to shrink by up to 5 percent this year amid low oil prices and Western sanctions over Moscow role in the Ukraine crisis. Just three weeks ago, Koptev quoted 3.4 trillion rubles as the agency funding target in its proposed Federal Space Program 2016-2025 — a document that lays out Russia space activities over the next decade and specifies the funding allocated to each project. The drastic reduction in proposed funding will hit Russia more ambitious space proposals hard. It is now unclear where the money to develop such a rocket will come from. Although the agency continues to say it will land a cosmonaut on the moon by 2030, it will need to build a new super-heavy rocket to accomplish the task. (news.financializer.com). As reported in the news.