The reserve Fund will be depleted in 2017, said Golikova RIA Novosti

10:1512.12.2016

(updated: 10:51 12.12.2016)

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MOSCOW, 12 Dec — RIA Novosti. the Russian economy is fully adjusted to the prevailing conditions on the background of the sanctions and the crisis, said in an interview with “the Spark” the head of the audit Board Tatyana Golikova.

At the same time, she said, the trend rise or fall until the end undecided – while the economy is showing fluctuating trend. Meanwhile, now visible “are barely noticeable shifts” in the direction of growth.

“we Hope that 2017 will meet the expectations”, — said Golikova.

According to the head of the counting Board, next year Russia is to fully exhaust the Reserve Fund, and the government will switch to using the funds of the national welfare Fund (NWF).

“Pleased that the reserve money to use for financing of budget expenditures will be lower in 2019 is 140 billion rubles (in 2017 — 1.8 trillion rubles). But there is something that concerns the increase in domestic borrowing up to 1.9 trillion rubles a year, or 680 billion more than in 2016. The more debt, the more you have to pay according to his interest,” — said Golikova.

the Head of audit chamber noted that in 2017, the government will continue to implement anti-crisis measures and will create a new reserve to support the automobile industry, agricultural engineering and other industries that contribute to economic growth.

According to Golikova, in 2016 the Russians “have become less emotionally involved with what is happening” in the economy. She stressed that the government did not sequester the budget expenditures and allocated money to import substitution and support of certain industries.

national welfare Fund and the Reserve Fund was established in February 2008 after the division of the Stabilization Fund. FNB is part of the mechanism for pension of the Russians, and the Reserve Fund represents a part of means of the Federal budget is formed mainly due to oil and gas revenues.