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Finance Ministry expects National Welfare Fund to grow to $212 bln in 2021

In 2019-2021, the funds of the National Security Fund will not be used to finance the deficit of the federal budget and the budget of the Pension Fund

MOSCOW, September 19. /TASS/. Russia’s Finance Ministry expects the National Welfare Fund (NWF) to grow up to 7.8 trillion rubles ($117 bln) in 2019, to 11.37 trillion rubles ($170 bln) in 2020 and to 14.18 trillion rubles ($212 bln) in 2021. This is according to an explanatory note to the draft federal budget for 2019-2021.

In 2019-2021, the funds of the National Security Fund will not be used to finance the deficit of the federal budget and the budget of the Pension Fund.

In 2019, the fund will be increased by 4 trillion rubles ($59.8 bln), "in particular through additional oil and gas revenues of 3.92 trillion rubles ($58.6 bln) and the accumulated exchange rate difference of 85.6 billion rubles ($1.3 bln)."

In 2019, the government will allocate 4.4 bln rubles ($65.8 mln) from the NWF to co-finance pensions. In 2020 and 2021, 3.7 bln rubles ($55.4 mln) and 3.3 bln rubles ($49.4 mln) will be spent on co-financing of pensions respectively.