MOSCOW, 24 Oct. The Reserve Fund of the Russian Federation by the end of 2016 to fall to 1 trillion rubles, NWF — to 4,666 trillion rubles, according to the draft Federal budget for 2016, published on the Duma website.
“Due to the fact that in 2016 the Reserve Fund is not projected to the end of the year its volume will decrease to 1 trillion 51.4 billion rubles”, — stated in the document. The authorities intend to spend next year from the Fund 2, 137 trillion rubles to Finance the budget deficit.
“Total Fund balances national wealth Fund, adjusted to reflect exchange differences at the end of 2016 is estimated at 4,666 trillion rubles”, — stated in the document.
“We will continue the use of the funds of the national welfare Fund (NWF) to co-Finance pension savings, as well as a portion of Fund to Finance major infrastructure projects. By the end of 2016 the amount of funds of the NWF placed in other (other than accounts with the Bank of Russia) financial assets, $ 1,175 trillion rubles”, — stated in the explanatory note to the draft budget.