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Russian Finance Ministry says Reserve Fund to be depleted in 2017

October 07, 2016, 19:32 UTC+3

Resources of sovereign funds are enough for the three-year period so far, the Deputy Finance Minister said

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© Sergei Konkov/TASS

MOSCOW, October 7. /TASS/. The Reserve Fund will be depleted in 2017, Deputy Finance Minister Alexey Lavrov said on Friday.

"2.1 trillion rubles ($33.7 bln) will be spent from the Reserve Fund this year and 1.1 trillion rubles ($17.6 bln) in the next year. The Reserve Fund will be exhausted and we will start using resources of the National Wealth Fund in the next year," the official said.

"Resources [of sovereign funds - TASS] are enough for the three-year period so far, if we treat them highly conservatively and limit [budget] deficit," Lavrov added.

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