Russia's Wealth Fund will be down to $7.9 bln in three years — finance minister

2016/9/30 18:02:30

Russia's budget deficit in 2016 could reach 3.5-3.7% of GDP, depending on the structure of the deal with Bashneft

 


By Sergei Konkov for TASS:

 

SOCHI, September 30. TASS. Russia’s National Wealth Fund (NWF) will be used up to the level of 500 bln rubles ($7.8 bln) by the end of 2019, Finance Minister Anton Siluanov told reporters at the Sochi International Investment Forum 2016.

 

The volume of reserves of the National Wealth Fund and the Reserve Fund will be only 500 billion rubles at the end of the three-year period. 500 billion rubles will remain of the National Wealth Fund (the Reserve Fund will be completely used up - TASS), the minister said.

 

He added that the government should be careful when spending money on new projects from the NWF.

 

In conditions, when we spend reserves, the NWF will be used to fill the hole in the budget as part of the three year period, Siluanov stressed.

 

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http://tass.com/economy/903174

 

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