As a result of Russia’s economic crisis and the devaluation of the ruble, the country will decrease its funding for national universities this year by at least 10%. The government expects the universities to make up the difference, from $4.2 billion last year to $3.8 billion this year, by acquiring private funds and investments, commercializing scientific research and through foreign-student enrollment. The Ministry of Education and Science indicated that the funding cuts would mainly be to the investment programs of universities rather than student training, specialized programs and teacher salaries. The Rector of Moscow State University reported that the university has reduced spending on R&D, and equipment purchase and repair to account for its 10% drop in budget. According to the Rector of the Higher School of Economics, the government’s funding of higher and postgraduate education in 2014 was $8.7 billion.

Source: University World News