Telegram included in register of Internet information distributorsBusiness & Economy June 28, 20:56
Putin points to growing activities of foreign secret services against RussiaRussian Politics & Diplomacy June 28, 20:36
FIFA chief Infantino to attend Chile-Portugal 2017 Confederations Cup semis match in KazanSport June 28, 20:27
Lavrov expects US to refrain from creating pretexts for new attacks on SyriaRussian Politics & Diplomacy June 28, 20:09
Top diplomat says Germany willing to open new chapter in relations with RussiaWorld June 28, 19:28
Russia open for cooperation with Germany in war on terror, Lavrov saysRussian Politics & Diplomacy June 28, 19:22
Baltic Fleet’s fighter jets hold air combat drills in Russia’s westernmost regionMilitary & Defense June 28, 18:57
Russian telecom watchdog to include Telegram in registerBusiness & Economy June 28, 18:51
Skolkovo Foundation proactively cooperating with China — IT projects directorBusiness & Economy June 28, 18:41
ST. PETERSBURG, June 16. /TASS/. The Russian Finance Ministry will spend 2-2.5 trillion rubles ($30.3-38 bln) from the Reserve Fund and net borrowings will amount to about 300 bln rubles ($4.6 bln) this year, Minister Anton Siluanov said on Thursday at the St. Petersburg International Economic Forum (SPIEF).
"Net borrowings will be about 300 bln rubles ($4.6 bln) this year; reserves to be spent will range from 2 to 2.5 trillion rubles ($30.3-38 bln)," Siluanov said.
However, growth of the Russia’s budget deficit to 3-5% of the GDP will result in higher net borrowings.
"Indeed, if the budget deficit is 3 or 5%, then the amount of net borrowings will have to be higher," Siluanov said.
The minister has stressed that the finance ministry would not use the whole of the Reserve Fund, and a safety cushion will remain.
"We’ll keep the Reserve Fund, won’t use the whole of it. That’s why we’ll be reducing the expenses of the Reserve Fund within the next three years keeping a safety cushion and gradually boosting the volume of domestic borrowings," Siluanov said, adding that the issue is not about borrowings in foreign exchange and it is only possible to finance the budget using domestic borrowings.