Russian Finance Ministry says Reserve Fund to be depleted in 2017
Business & Economy
October 07, 2016, 19:32
Resources of sovereign funds are enough for the three-year period so far, the Deputy Finance Minister said
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.