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Russia’s Reserve Fund to be fully depleted in 2017

December 26, 2017, 15:02 UTC+3 MOSCOW

Earlier Siluanov said that the Fund would amount to $62.51 bln, or just over 4% of GDP, as of January 1, 2018

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MOSCOW, December 26. /TASS/. Russia’s Reserve Fund will be fully depleted in 2017, Finance Minister Anton Siluanov said Tuesday, adding that spending from the Fund would total around 1.5 trillion rubles ($26 bln), while spending from the National Wealth Fund (NWF) is expected at 660 bln rubles ($11.4 bln).

"Spending from the NWF equals around 660 bln rubles, and from the Reserve Fund - of around 1.5 trillion rubles," he said.

Earlier Siluanov said that the Fund would amount to 3.7 trillion rubles ($62.51 bln), or just over 4% of GDP, as of January 1, 2018, while the liquidity part of the NWF would stand at 2.3 trillion rubles ($39.8 bln), according to the ministry’s calculations.

In November 2017, the Reserve Fund increased by almost 2% to 994.6 bln rubles ($17 bln), while the National Wealth Fund declined by 2.8% to 3.9 trillion rubles ($66.6 bln), the Finance Ministry said earlier.

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