The Ministry of Finance will start to spend money of the Reserve Fund on the schedule, depending on the amount of funds in the account of the Federal Treasury. The first spending will begin in the first half of 2016. This was stated by Director of the Department of long-term strategic planning of the Ministry of Finance Vladimir Kolychev.
“Reserve Fund this year will spend all means, schedule will depend on liquidity in the Treasury’s account. I can say that it will happen in the first half, “- he said, reports TASS
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The aggregate amount of the Reserve Fund of the Russian Federation on April 1, 2016 amounted to 3 trillion 420.92 billion rubles., Which is equivalent to $ 50.60 billion. On March 1, 2016 the fund amounted to 3 trillion 747.06 billion rubles. Thus, for the last month it fell by 326.14 billion rubles. or 8,7%.
The total volume of the National Welfare Fund (NWF) on April 1 this year amounted to 4 trillion 947.33 billion rubles. ($ 73.18 billion). Note that as of March 1 this year, the fund size was 5 trillion 356.96 billion rubles. Thus, for the last month it fell by 409.63 billion rubles. or 7,6%.
In late February, the chairman of the Bank of Russia Elvira Nabiullina said that the spending of the Reserve Fund to pay off the budget deficit is now does not affect the exchange rate. “Now, these operations do not affect the currency market, because we do not mirroring”, – stated the head of the Central Bank
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