Russia Cuts Budget to Try to Spur Growth

MOSCOW — The Russian government on Thursday approved across-the-board budget cuts over the next two years in the clearest sign yet that officials do not expect its economy, the world’s eighth-largest, to revive soon, and that the Kremlin is ready to try a new policy to spur growth.

Former Russian Minister Warns of Economic Ebb

ST. PETERSBURG, Russia — President Vladimir V. Putin was all swagger last week at the annual economic forum here, effectively wagging a finger at Europe over its fiscal problems and keeping the chief executives of some of the world’s most powerful oil companies waiting for hours in a hallway until he finally met with them.