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About $4.8 bln from NWF to be spent for economic support in 2020, says Putin

NWF resources are also spent for development of the transport infrastructure, the Trans-Siberian and the Baikal-Amur railways in particular, the President added

MOSCOW, December 17. /TASS/. The amount of the National Wealth Fund (NWF) allocated for economic support and social payments is equal to 350 bln rubles ($4.8 bln) in 2020, Russian President Vladimir Putin said at the annual press conference on Thursday.

"We also allocate a portion of money from NWF for current budget expenses in this year, for social ones in the first instance. These are payments to citizens, families with children, payments to doctors, to students of higher medical educational institutions and colleges. This is to support the exposed sectors of the economy, support major companies. The total amount of money we are to allocate from NWF in this year will be 350 bln rubles, with 250 bln [rubles ($3.4 bln) of them already] utilized," the head of state said.

The remaining 100 bln rubles ($1.4 bln) can be utilized by the end of 2020, Putin noted. "The end of year is somewhat quick, intensive from the standpoint of money spending. I think about 100 bln [rubles] can be utilized by the year-end," the head of state said.

NWF resources are also spent for development of the transport infrastructure, the Trans-Siberian and the Baikal-Amur railways in particular, the President added.