Finland, Russia have no serious problems in their relations — top diplomatWorld February 27, 21:49
Brazil's joyful carnivalSociety & Culture February 27, 21:30
Syrian opposition has no dialog partner seeking peace — chief negotiatorWorld February 27, 20:37
About 40 Arctic projects may be in Russia's Yamal backbone zone — governorBusiness & Economy February 27, 19:28
Russian Defense Ministry forms special purpose division near MoscowMilitary & Defense February 27, 19:13
Russian frigate in Mediterranean to deliver no strikes on terrorists in Syria — sourceMilitary & Defense February 27, 18:54
First stage of Arkhangelsk deepwater port to go operational by 2025Business & Economy February 27, 18:45
Cairo group says military option in Syria 'ruled out' after recapture of AleppoWorld February 27, 18:31
Communication breakdown between Russia and EU deters fight against real threats — MPRussian Politics & Diplomacy February 27, 17:40
MOSCOW, July 6. /TASS/. Russia’s Reserve Fund may be depleted in 2017, Deputy Finance Minister Sergey Storchak said Wednesday.
"Yes, it is possible," he said when asked whether the Reserve Fund may be depleted next year, adding that "political decisions are made at various levels" and "at the moment this level is higher than mine."
As was reported earlier Russia’s Reserve Fund declined by 3.7% in June to 2.5 trillion rubles ($39 bln) while the National Wealth Fund (NWF) dropped by 3% to 4.7 trillion rubles ($73.4 bln). In dollar terms the funds amounted to $38.22 and $72.76 bln, respectively, as of July 1.
In May, the Finance Ministry spent $2.67 bln, €2.34 bln and £0.41 bln worth of funds from the Reserve Fund for financing budget deficit. No disbursements were reported for June. On the whole the Finance Ministry may spend a total of 2.2 trillion rubles ($34 bln) to finance budget deficit, which the Central Bank says may cause a structural liquidity surplus of the banking sector.
According to the data provided by the Finance Ministry, as of July 1 the Reserve Fund amounted to $17.42 bln, €15.61 bln and £2.62 bln.