Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

The Reserve Fund of Russia Ceased to Exist
January 6, 2018 17:39


From January 1, 2018 the reserve fund of Russia ceased to exist. Now it has joined the National Welfare Fund (NWF). All additional oil and gas revenues of the budget will be sent to the NWF.

Moreover, in 2018, the Fund will receive 829.2 billion rubles, which the Ministry of Finance bought on the market in the framework of its foreign exchange operations during last year.

According to Finance Minister, Anton Siluanov, as of January 1, it should make 3.7 trillion rubles, and its liquid part (that is free balances not invested in assets) is 2.3 trillion rubles. The NWF will become a source of financing the budget deficit in the event of a sharp drop in income, as well as co-financing voluntary pension savings. Therefore, in 2018 more than 1.1 trillion rubles will be directed for these purposes.

During further years, according to the forecasts of the authorities, the funds of the NWF will be spent only on pension savings.


Author: Anna Dorozhkina


Next Previous

You might also find interesting:

Risks of Decrease in the Incomes and Living Standards of Russians Persist Wages In Russia Decreased By 40 Percent Voice of America and Radio Svoboda - Foreign Media Agents Navalny And Yashin Case Oil And Gas Companies Privatisation

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share


search on the map
Irkutsk  Metalinvestbank   State Tretyakov Gallery  Moscow  Spring Ball  Moscow Souvenir   World Bank  Syria  Archeology  Russian artists  Anna Bunina  Russian Romance  Vladimir Yakunin  iPhone 5   children  Russian business  Varya Panina  Tourist Information Portal  St. Petersburg  Skolkovo  Russian Cinema  Boris Grebenshchikov  Festival of Modern Jewish Culture  Russian visa  Russian actors  Russian National Parks  Staroe Shaigovo  Federal Space Agency  Russian Rock Music  Moscow monuments  sanctions  Adygea  Altai Republik  State Duma  EcoBattle  Russian Museums   Russian government  Gorky Park  Russian legislation  Russian history  Russian tourism  Synagogue  Smolensk Oblast  Russian Literature  Exhibitions in Moscow  Russian tourist destinations  Voronezh Museums  Bashmakovo  Mercedes-Benz Fashion Week Russia  Russian festivals 

Travel Blogs
Top Traveling Sites