• The Ministry of Finance decided on the spending of the Reserve Fund and national welfare Fund in 2017

  • In 2017, Russia's Finance Ministry plans to direct to cover the budget deficit 1,061 trillion rubles from the Reserve Fund and 663,5 billion rubles from the national welfare Fund (NWF). It is stated in the amendments of the budget in 2017, published on the Federal portal of normative legal acts.

    Thus, the normative size of the Reserve Fund increased to 6,453 trillion rubles compared to the previous estimate at 6,076 trillion rubles, according to materials of the Finance Department.

    According to the document, it is also proposed to change the expected size of GDP this year to 6.2 percent — representing 86.8 trillion rubles to 92.2 trillion rubles.

    In addition, the Agency proposed to change the forecast inflation rate to 3.8 percent from four percent in 2017.

    2 may the head of financial Department Anton Siluanov said, in 2017, the Reserve Fund was planned to withdraw in terms of some 29 billion euros. "But, according to the latest projections, we can this figure be reduced to 16 billion euros," — he said.

    According to the Finance Ministry, the Reserve Fund as of may 1 of the current year amounted to 931,2 billion (16,34 billion), FNB — 4,192 trillion rubles (of 73.57 billion)

    Earlier, the Ministry of Finance planned in 2017 to spend the Reserve Fund is fully used for financing the budget deficit of 1.15 trillion rubles and to direct on these purposes from the Fund even 668,2 billion.


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