The government denied the freezing of funding of the projects from the NWF


The Russian government is not discussing the possibility of “freezing” the funding of investment projects from the funds of the national welfare Fund (NWF), assured the first Deputy Prime Minister Igor Shuvalov.

“Doesn’t sound such a topic to have something to freeze, it was not such,” – said Shuvalov (quoted by TASS).

At the same time the first Vice Prime Minister noted that part of the Fund, previously allocated by the company “Russian Railways” (RZD) for the purchase of locomotives, can be reallocated for the implementation of other projects. However, the initiator of this “castle” itself is state-owned company, successfully placed its ruble bonds.

“Some of the money received by Railways, they are ready to return it because they have a good placement. And on the contrary, they turn to the government, that we are part of the funds which FNB has given back to the Fund for redistribution to other projects”, – said Shuvalov.

Earlier today the newspaper “Vedomosti” reported that the materials of the Ministry of Finance prepared the budget meeting with first Deputy Prime Minister, proposes to freeze funding of investment projects in order to meet the target deficit in 2017-2019. According to the newspaper, the Agency proposes either to freeze the financing of ongoing investment projects at 261 billion rubles, or increase the program of privatization or loans of not less than 500 billion rubles.

Only FNB on September 1, was 4.7 trillion rubles., of which 1.9 trillion reserved for infrastructure projects, the projects of Rosatom and RDIF, as well as to help the banks.

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