The pattern of Central assistance included loan as a major element in respect of general category States, which was implicitly funded from borrowings by the Centre and hence, the terms of loans extended to the States reflected the Centre’s cost of borrowings.
Russian GDP is not expected to reach the level of 2014 until 2019. While the macroeconomic situation has been difficult, Russia has been able to push through reforms. The decision to float the rouble and to move towards fully fledged inflation targeting has been instrumental in helping the Russian economy adjust to the period of lower oil prices.