Catastrophic gaps identified on all the fronts. According to the draft budget for 2017, the Reserve Fund will be completely exhausted in the near future, then patching holes is going to be implemented at the expense of the NWF.
Economists have warned that if the spending will occur at the same pace
in 2016, the current balances of the Reserve Fund will last only for 2 months.
According to Manginah it follows that
Reserve Fund for 2016 was reduced to 73.3 per cent (or 3.7%) to 972,13 billion
rubles, the national welfare Fund (NWF) – by 16.6%, to 4.36 trillion
reports “Dialog. UA”.
Last December a portion of the funds in foreign currency from the accounts in the Bank of Russia implemented in 966,90 billion by directing them to enroll in the Federal budget
on a single account.
But apart from Dec, money from the Reserve Fund
withdrawn in April, then in may and August. Each time it amounted to
at 390 billion rubles.
In addition, the Fund suffered large losses in
a result of measures on strengthening of the Russian ruble.
We will remind, chtov Russia got very nervous after U.S. senators made a proposal to strengthen sanctions against
Russia through the adoption of an additional package of sanctions measures.
In addition, the Kremlin is alarmed by the EU’s decision,after which Putin will lose the main trump card.