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Russian Pension Fund savings to reach $8 billion in 2015

September 15, 2014, 12:10 UTC+3 MOSCOW
The government also intends to transfer 19 billion rubles ($500,000) of budget reserves to next year and send them to the so-called anti-crisis fund, Finance Minister Anton Siluanov says
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Russia's Finance Minister Anton Siluanov

Russia's Finance Minister Anton Siluanov

© ITAR-TASS/Dmitry Astakhov

MOSCOW, September 15. /ITAR-TASS/. The Russian Pension Fund transfer economy will reach 309 billion rubles (around $8.1 bi88llion) in 2015, Finance Minister Anton Siluanov told reporters on Monday.

“As for the pension savings, next year this sum will reach some 309 billion rubles,” he said. “The reserve that will be used to support the financial and oil and gas sector companies, if needed, will also be determined,” Siluanov said.

According to him, the government also intends to transfer at least 19 billion rubles ($500,000) of budget reserves from this to next year and send them to the so-called anti-crisis fund.

Economic Development Minister Alexei Ulyukayev said earlier that the state would support the companies where investment programs are threatened by sanctions. According to him, the ministry is interested in the implementation of these investment programs, including the northern offshore oil production programs and some others.

Ulyukayev said these companies can count on the provision of the state support to their investment program by all available means, “but this will be done on a repayable basis”.

He also said that the support would be provided not only to the oil sector companies, but also to the banking, financial and defense sector companies.

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