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Limit for use of Russia's Reserve Fund may be increased multifold in 2015 — minister

December 30, 2014, 20:39 UTC+3 MOSCOW
The limit now stands at around $8.7 billion
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© AP Photo/Alexander Zemlianichenko

MOSCOW, December 30 /TASS/. The established limit of 500 billion roubles ($8.7 billion) for the use of the Russian Reserve Fund may be increased several times in 2015, Russian Finance Minister Anton Siluanov said in an interview aired by the Rossiya 24 TV news channel on Tuesday.

“I believe we will have to exceed it several times,” Siluanov said adding a decision could be expected by the end of the first quarter of 2015.

“We are going to submit our proposals to parliament,” the finance minister said.

The Russian Reserve Fund was estimated at 4.4 trillion roubles ($77.2 billion) on December 1, 2014. However, today Siluanov said that at the moment the Reserve Fund stands at about 4.9 trillion roubles.

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