Siluanov: 2016 is last year Reserve Fund can spend its reserves

Siluanov: 2016 is last year Reserve Fund can spend its reserves

Russian Finance Minister Anton Siluanov said next year may be last for the Reserve Fund.

Siluanov added the budget shortfall for 2015 is expected to be 2.6 trillion rubles. "This means that 2016 is the last year when we are able to spend our reserves in this way," he said.

He predicted the budget shortfall for 2016 will be 900 billion rubles if oil prices and the ruble exchange rate remain at current levels.

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