Siluanov: the Ministry of Finance can start spending reserves, while maintaining oil prices at $30

Siluanov: the Ministry of Finance can start spending reserves, while maintaining oil prices at $30


MOSCOW, 6 February. The Ministry of Finance can start spending reserves, while maintaining oil prices at $30 per barrel. About this to journalists on the sidelines of the Congress of the party “United Russia” announced the Minister of Finance of the Russian Federation Anton Siluanov.

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“We certainly are not magicians. Of course, if the price (of oil) will remain at $30, we may have to apply for a reserve. But we aim to minimise those decisions,” Siluanov said in answer to the question, is it still the challenge is not to spend the Reserve Fund.

According to the Finance Ministry, the Reserve Fund on February 1, 2016 amounted to 3,737 trillion rubles., NWF – 5,349 trillion rubles In foreign currency volume of funds on February 1 is $49,72 billion and $71,15 billion, respectively.

Budget 2016 based on the estimation from the price of Urals crude oil at $50 per barrel, so far the oil price this brand fell below $35. Budget revenues are assumed at $ 13,738 trillion (17.5 percent of GDP), expenses – up to 16,099 trillion rubles (20.5% of GDP). The budget deficit will reach 2.36 trillion roubles or 3% of GDP.

Siluanov on January 13 said that if the current oil prices and in the absence of the government’s response, the deficit may grow twice. At that time, the price of Brent crude oil was at its minimum is below $28 per barrel.

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Oil prices over 40 years

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