Reserve Fund and National Welfare Fund to decrease to 2 trillion by 2020

Reserve Fund and National Welfare Fund to decrease to 2 trillion by 2020

Russia's Ministry of Economic Development expects the reduction of the total volume of Reserve Fund and National Welfare Fund from current 7.6 trillion rubles to 2 trillion by 2020, according to the forecast for 2017-2019, approved by the government.

"Ministry of Economic Development of Russia proceeds from the necessity to maintain the volume of funds at the level of at least 2 trillion rubles by the end of 2019," the forecast says.

The Ministry of Economic Development believes that the budget will remain in deficit until the end of three year period.

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