The Ministry of Finance: the Reserve Fund dipped to 73.3 percent in...

The Ministry of Finance: the Reserve Fund dipped to 73.3 percent in 2016

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Its volume by January 1, 2017 equal to 972,13 billion

Photo: lime/Zurab javakhadze

The amount of the Reserve Fund on 1 January 2017, made up 972,13 billion roubles, as compared to 3.64 trillion rubles a year earlier. This was announced by the Finance Ministry on Tuesday.

Thus, last year the Reserve Fund was spent only 73.3%.

The structure of the Fund at the beginning of the current year were as follows: $7,62 billion, €6, 71 billion and £1.1 billion.

The reduction of the Reserve Fund last year, according to the Finance Ministry, was due not only to direct spending, but the decline of the dollar against the ruble. So, the exchange rate difference from revaluation of the balances of the Fund for the period from 1 January to 31 December 2016 was minus 531,54 billion.

In addition, the Ministry of Finance reported on the status of the national welfare Fund (NWF). So as of 1 January 2017, its volume was equal to 4,36 trillion roubles, or 16.6% less compared to the same indicators a year ago (of 5.23 trillion rubles).