Lavrov says astonished to watch mass hysteria among US politiciansRussian Politics & Diplomacy July 25, 1:35
Lavrov comments on Syrian de-escalation zone agreementRussian Politics & Diplomacy July 24, 20:15
Iraq calls for closer cooperation with RussiaWorld July 24, 19:09
Russia develops laser-guided automatic landing system for dronesMilitary & Defense July 24, 18:22
Communist propaganda ban not aiming to dismantle Soviet WWII memorials, vows Polish envoyWorld July 24, 18:16
Situation with Siemens won’t affect Russian companies — energy ministerBusiness & Economy July 24, 18:11
Russian energy minister says oil prices may grow in 2017Business & Economy July 24, 17:31
Putin fills in Normandy Four on Russia’s approaches to key Minsk accord provisionsRussian Politics & Diplomacy July 24, 16:57
Normandy Four leaders call for ceasefire in DonbassWorld July 24, 16:29
MOSCOW, January 14. /TASS/. The Bank of Russia will sell 500 billion rubles worth of hard currency from the Reserve Fund, Finance Minister Anton Siluanov told the Gaidar Forum in Moscow on Wednesday.
“We believe it will be economically effective to use the right to tap the Reserve Fund for budget purposes,” he said. “In other words, in cooperation with the Central Bank, we will sell part of the government’s hard currency assets, convert it to rubles and place the rubles on banks’ deposits.”
Siluanov recalled that 500 billion rubles was the maximum amount of Reserve Fund money that could be used this year. The measure, he said, would help stabilize the exchange rates and improve liquidity.
“We will have a resource for financing our spending that must be made at the beginning of the year,” he said.
Russia’s budget deficit this year will most probably stay under two percent and in any case it will be no higher than three percent, Siluanov told the RBC-TV in an interview on Wednesday.
“This year the budget deficit will most probably stay between two and three percent if we make a decision to optimize spending,” he said.