Russia: Forecasts for the replenishment of the Reserve Fund decreased

Reserve Fund can be replenished with 120 billion rubles in 2014.

30.Jul.14 11:05 AM
By Mikhail Prygunov
Photo novostey.com

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Russia: Forecasts for the replenishment of the Reserve Fund decreased

Russian Deputy Minister of Finance Tatyana Nesterenko said that that reserve Fund can be replenished only with 120 billion rubles in 2014. Earlier Head Minister of Finance Anton Sulanov said this sum will be up to 231 billion rubles. At the same time primary planning expected that Reserve Fubd will be replenished with 343 billion rubles in 2014.

Reserve Fund will be lower in spite of the whole income which comes from selling oil and gas resources. This income will be mostly spent on covering lost revenue in other fields as well as covering budget deficit.

Nesterenko also noted that income from selling gas and oil resources will be lower by 2030 despite the fact that sales level will be the same. Total volume of Reserve Fund was 2.937 billion rubles on the 1st of July 2014.

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