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There Can Be only $10 Million in Russian Reserve Fund by 2018



All funds will be used to stabilize current economic situation.



03.Jul.15 4:59 PM
By Anna Repina
Photo Toinnov.com

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There Can Be only $10 Million in Russian Reserve Fund by 2018
Russian Minister of Finance Anton Siluanov said that there can be only $10 million left in Russian reserve Fund by 2018. Such statement was made during his press-conference. The rest of funds will be spent on stabilizing of the current economic situation in the country.

The Minister said that the government is planning to spend $50 billion from the Reserve Fund to eliminate the deficit of the federal budget. It should also be noted that total sum in the Reserve Fund at the moment is about $10 billion. The official stated that about $20 million will be spent during the current year as well as in 2016-2017.

In case of positive dynamics of financial situation in the country the primary goal for Russia will be efficient strategy aimed on annual fulfilling of existing reserves which will eventually result in creating positive conditions for Russian economy in future.

Ministry of Finance experts are except to work out three different scenarios of Russian economy development. They include optimistic, base and risky scenario. They will make it possible for experts to take right decisions and evaluate current situation in financial field.



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