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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


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