Stronger oil prices will contribute to the preservation of reserves in Russia, said at the Gaidar forum the Minister of economic development Maxim Oreshkin, reports .
… Complained that expectations on the economic situation remains negative.
“With regard to the budget system, the price of oil started at the beginning of this year. We have a very good opportunity to reduce the use of the Reserve Fund and keep the Reserve Fund at the end of the year,” said Oreshkin.
Biography Of Maxim Oreshkin
The Minister also noted that economic journalism “very large” number of articles about the imminent “once the collapse of the ruble”. So the question of stabilization of expectations is very important, concluded the Minister. … Again raised the issue of inflation, noting that there is “no serious threats” that the Outlook for price growth of 4% will be “seriously disrupted”.
In September 2016, Deputy Finance Minister Alexei Lavrov said that the Reserve Fund will be exhausted in the case of maintaining the present pace of their spending to cover the Federal budget deficit. Lavrov said that after the exhaustion of the Reserve Fund to Finance a budget deficit will have the expense of the national welfare Fund.
As of January 1, 2017 (the latest available data) the Reserve Fund amounted to 972 billion rubles.