In August, the Reserve Fund was reduced to 470 billion rubles, including 390 billion was allocated to cover the budget deficit, said the Ministry of Finance. During the same period, the national welfare Fund decreased by 123 billion rubles — to 4,719 trillion.
The reserve Fund was reduced
As noted in the message Department, at the beginning of September the Reserve Fund amounts to 2.09 trillion rubles, or 32.2 billion dollars. In August this figure dropped to 18% in rubles and by 15.7% in dollars.
In August it sold of 2.92 billion dollars, of 2.46 billion euros and 0.31 billion pounds from the accounts of the Fund, and the proceeds rubles transferred to the budget.
Balances in separate foreign currency accounts of the Fund 14.5 billion dollar of 13.15 billion euros and 2.30 billion pounds.
The NWF is growing in dollars, but in rubles falling
Over the past month the national welfare Fund decreased by 3.6% or 123 billion rubles — to 4,719 trillion, but the dollar rose 0.7% to 72,71 billion.
Just as noted in the Department, the accounts in the Bank of Russia placed: 19,56 billion; billion 20,76 € 3,83 billion pounds; 0,02 billion. On Deposit with Vnesheconombank placed 195,03 billion rubles and 6.25 billion.
In preferred shares of credit institutions invested 278,99 billion rubles on deposits in VTB Bank and Gazprombank for financing of infrastructure projects located 164,43 billion.
The aggregate income from placing the Fund in a permitted financial assets with the exception of funds on Bank accounts of Russia, from January to August 2016 made 24,44 billion or 0.36 billion. The amount of income from placing funds of the NWF on securities accounts for the same period was 0.24 billion us dollars, the equivalent of 15.41 billion.
The exchange rate difference from revaluation of means of the Fund for the period from 1 January to 31 August 2016 of the year amounted to a negative value — minus 501,25 billion.
What’s next?
The Ministry of Finance resorted to the Reserve Fund for the first time since may. In the first two months in office managed to do without this measure. As for may and April, the Fund had withdrawn a similar amount — 390 billion rubles a month. Thus, to cover the budget deficit of Fund in 2016 already spent 1,170 trillion rubles.
The Finance Ministry is expected to spend in 2016 2.1 trillion rubles from the Fund. However, according to Reuters, citing prepared by the office of proposals to government, Foundation by the end of the year will be fully spent. In addition, the deficit will have to send 783 billion rubles from the national welfare Fund.
In turn, Finance Minister Anton Siluanov had earlier assured that the Reserve Fund will not be fully depleted in 2017.
Ruble rises
Information about the resumption of conversion, the Ministry of Finance of currency from the Reserve Fund in August provided support to the ruble, which continued to rise against the dollar and the Euro.
According to experts, this may mean that similar sales will continue in September.
