The Ministry of economic development reduced curators “of a jug for future generations”

In the structure of the Ministry of economic development was disbanded, the Department for investment projects, said Federal official and confirmed two of his colleagues. According to one of them, the corresponding order on Wednesday was signed by the Minister of economic development Alexey Ulyukaev (the day before he abolished the Department for strategic development).

The division was responsible for the evaluation of applicants for funds from the national welfare Fund (NWF), as well as developing the procedure for selecting such projects and guided them in the registry. The whole functionality of the Department will be saved, sealed by the official of the Ministry of economic development: will be the responsibility of the Department of development institutions, which will be renamed “the Department of institutions for development and evaluation of investment projects”.

The representative of the Ministry of economic development responded to a question about the abolition of units of the quote speaker with recent Board Discussion: “That a sin to conceal — the state apparatus is very large, the budget situation is very complex and we, of course, (…) we need to start with yourself.”

The window is closed

Who will do the assessment — Department or unit within the Department with “more technical,” says a top Manager of state-owned companies receiving support from the NWF. This decision — said the source , reflects the General mood in government: a priority for conservation reserves.

Has a maximum Fund safety, the Federal official agrees: “It [NWF] is an important stabilizing element”.

Who managed to get into the “pod”

The NWF was initially designed as a reserve for a rainy day, which will go on payment of pensions to future generations. In 2012, President Vladimir Putin asked the Federal Assembly to print the national welfare Fund on infrastructure projects. After that, for projects in Russia the quota was established at 40% of the Fund. In 2014 it has grown to 60% through additional limits on the projects of Rosatom and RDIF — 10% of the NWF, but not more than 290 billion rubles each.

As a result, the government has approved 12 projects with a total amount of 972 billion Last in line for money NWF managed to “SIBUR”. The government has included its petrochemical complex Zapsibneftekhim in the list of recipients of the Fund in October 2015. Actually, the question about “SIBUR” was resolved a year earlier. The President instructed the Ministry of economic development to support the project in September 2014 (details of this deal please read this.)

Then “SIBUR” was not the only contender for the NWF money. For the year of 2014 has received over a hundred applications, says the official financial-economic bloc. Their total size has exceeded the size of the Fund, said another employee of the government. The companies, most of which were state-owned (for example, “Rosneft”, Russian grids, RUSNANO and RusHydro), were important allies in the government who believed that the economy should increase at the expense of means of NWF. The pressure was resisted by the Ministry of Finance, predosteregaet that “pod” has come in handy on a rainy day.

Funds already invested in the projects can’t be spent to cover the budget deficit, says official financial and economic bloc. In NWF on 1 February was to 5.35 trillion rubles Of them 112,63 bn and $4,11 billion (308,96 billion rubles at the exchange rate) were invested in infrastructure projects, 164,43 billion rubles is reserved for projects on deposits in VTB and Gazprombank.

Only through the Kremlin

The crisis, falling oil prices and the devaluation of the ruble have chilled the ardor of the lobbyists. And in February 2015, the President instructed to invest its funds only on his orders. If used to allocate money could the government, the President closed all the decisions yourself (read more about this here)

Since then, the Ministry has not received new projects, says the Federal official. It was decided that “old enough”, adds his colleague on the financial and economic block: “the List accepted by the President, no new projects there misses”.

The government believes that the anti-crisis plan (a package of measures to support the investment climate, key industries and regions in 2016) solves the problem of shortage of money in the economy, said a top Manager of state-owned companies. But this is not enough and need more stimulus measures, which the interlocutor is estimated at 300 — 500 billion rubles. “With what is happening with the budget, it is rather measures of the Central Bank and the issue than budget and reserve funds,” he acknowledges.