For the core economic growth measure of GDP, the Russian government predicts 1.2 percent growth in 2015, while the World Bank forecasts 0.3 percent. Inflation will be 5 percent next year, according to the government, despite a current rate of 7.6 percent. And its forecast for the average oil price, key to Russian exports, is around $100 a barrel next year, when the Urals crude oil price, Russia's benchmark, has recently fallen to $93 a barrel, and is expected to continue below $100 a barrel for months.
Elsewhere in the budget, defense spending has, unsurprisingly given continued skirmishes with Ukraine, been hiked.
Russia has also opened the possibility of tapping its reserve oil funds for cash. While official sanctions by the West against Russia don't yet target a wide range of Russian companies and individuals, many Western companies are delaying investment in Russia and not lending to Russian companies, in case further sanctions are imposed.