The Central Bank of the Russian Federation: the reserve Fund and national welfare Fund can be exhausted by the beginning of 2019


MOSCOW, December 23. Reserve Fund and national welfare Fund (NWF) can be completely consumed by the beginning of 2019 at the current level of spending. This assessment is contained in the regular financial stability review the Central Bank of the Russian Federation.

“If we assume that in 2017-2018, allocations of funds to balance the Federal budget, will be the same as in 2016, the total Reserve Fund and national welfare Fund will be spent almost entirely by the beginning of 2019”, – stated in the report.

According to the Finance Ministry, the Reserve Fund dropped in November 2015 to 7% to 3.93 trillion roubles, Fund of national well-being – grew by 1.2% to 4,78 trillion.

Expected this year on direct financing of the budget deficit from the Reserve Fund will be spent 2.6 trillion rubles.

According to the Finance Ministry, at the end of 2015 the Reserve Fund will amount to 3.4 trillion rubles, NWF – to 4.9 trillion rubles. Total reserves will amount to 8.3 trillion rubles, or 11.3% of GDP.