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:

The Group For the Murder Of Boris Nemtsov Was Formed In January 2015 Nadezhda Savchenko - Still Under Arrest The Amount of Bribes Revealed Reached 4.5 Billion Rubles Navalny Speaks On Primaries Youth Policy Strategy

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Flowers Delivery

search on the map
Hermitage Museum  Cars  Russian legislation  Painting  Fires  EU sanctions  Kabardino-Balkaria  Tretyakov Gallery  Nicolai Fechin  the Don  Russian painters  Russian tourism  Yevgeny Zharikov  Karl Brullov  Archeology  Mashina Vremeni  Russian actors  Russian business  Unemployment  Rocket and Space Corporation Energia  Kazan Gifts  Russian fairy  Russian space exploration  Lev Trotsky  the Bolshoi Theatre  Russian Cinema  Contemporary Writers  Saint Petersburg Museums  Alexander II  Russian transport  Russian history  Russian Literature  Russian Internet  Mercedes-Benz Fashion Week Russia  Moscow Museums  budget hotels  Bashkiria  History Museum  Brothers Lumiere Center of Photography  Russian pharmacies  Russian summer  events in Moscow  Anthems  Alexey Navalny  Retail  Moscow  Rostov-on-Don  Exhibitions in Moscow  Russian book publishers   Anton Chekhov 

Travel Blogs
Top Traveling Sites